Match Each Definition with the Appropriate Term

question 23

Short Answer

Match each definition with the appropriate term.
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Definitions:

Fully Depreciated

Describes an asset that has reached the end of its useful life, with its cost fully expensed against income over its defined accounting period.

Equipment

Tools, machinery, and other durable assets used by a business in its operations to produce goods or services.

Depreciation Method

An accounting technique used to allocate the cost of a tangible asset over its useful life, reflecting wear and tear or obsolescence.

Depreciable Assets

Tangible or intangible assets subject to depreciation, which involves allocating the cost of the asset over its useful life.