Match Each of the Following Terms with the Appropriate Definitions

question 71

Multiple Choice

Match each of the following terms with the appropriate definitions.

-A right granted that gives its owner the exclusive privilege to publish and sell musical, literary, or artistic work during the life of the creator plus 70 years.

• A)Obsolescence
• B)Amortization
• C)Depletion
• D)Salvage value
• E)Book value
• F)Land improvements
• G)Copyright
• H)Inadequacy
• I)Patent

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Definitions:

Debit Side

The left side of a ledger account that records increases in assets and expenses or decreases in liabilities and equity.

Debits

These are entries on the left side of accounting records, used to increase asset or expense accounts or decrease liabilities, equity, or revenue accounts.

Credits

Accounting entries that increase liabilities or equity or decrease an asset or expense.