Accounting Systems Report

question 83

Multiple Choice

Accounting systems report:

• A)only the total cost amounts.
• B)only the average-cost per unit amounts.
• C)both total-cost amounts and average-cost per unit amounts.
• D)only average costs.
• E)no cost amount data.

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Definitions:

Depreciation

The systematic allocation of the cost of a tangible asset over its useful life, reflecting the decrease in value due to usage, wear and tear, or obsolescence.

Office Equipment

Tangible assets such as desks, computers, and printers used in the operations of an office.

Production Equipment

Tools or machinery used in the manufacturing process to create products.

Depreciation

The accounting method of allocating the cost of a tangible asset over its useful life, reflecting its decrease in value over time.