The Purpose of the Tab on a File Folder Is

question 46

Multiple Choice

The purpose of the tab on a file folder is to

• A)hold documents in place in the folder.
• B)identify the contents of the folder.
• C)prevent the folder from being misfiled.
• D)keep the folder closed when not in use.

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Definitions:

Straight-Line Method

A depreciation technique that allocates an equal portion of the initial cost of an asset to each year of the asset's useful life.

Depreciation Expense

The annual charge to expense part of the cost of a tangible asset over its expected service life.

Construction Costs

encompass all expenses directly incurred in the physical construction of a building or structure, including materials and labor.

Balance Sheet

A financial statement that provides a snapshot of a company's financial position at a specific point in time, showing assets, liabilities, and shareholders' equity.