The ________ of an Asset Is the Value of an Asset

question 26

Multiple Choice

The ________ of an asset is the value of an asset at the end of its useful life.

• A)depreciation
• B)principal
• C)salvage value
• D)death

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Definitions:

Variable Costing

A managerial accounting method that only considers variable costs as product costs, with fixed overhead costs treated as period expenses.

Variable Costing

A costing method that includes only variable manufacturing costs — direct materials, direct labor, and variable manufacturing overhead — in the cost of a product.

Unit Product Cost

The total cost incurred to produce, package, and place a product ready for sale, divided by the number of units produced.

Absorption Costing

An accounting method that includes all manufacturing costs—direct materials, direct labor, and both variable and fixed overhead—in the cost of a product.