Identify/define and Explain the Significance of the Following: St.Teresa

question 75

Essay

Identify/define and explain the significance of the following: St.Teresa.

---

Definitions:

Straight-Line Method

An accounting method of depreciating fixed assets evenly over their useful lives.

Depreciation Expense

Depreciation expense is the systematic allocation of the cost of a tangible asset over its useful life, reflecting the asset's consumption, wear and tear, or obsolescence.

Salvage Value

The estimated residual value of an asset at the end of its useful life, reflecting what it can be sold for or its scrap value.

Straight-Line Method

A depreciation method where an equal amount of depreciation is charged for each year of the asset's useful life.