Match These Terms with Their Correct Definition

question 73

Multiple Choice

Match these terms with their correct definition.
-situation where an asset is lost or destroyed through theft,acts of nature,or by accident

• A)book value
• B)cost
• C)depletion
• D)depreciable cost
• E)depreciation
• F)impairment
• G)involuntary disposal
• H)residual value

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Definitions:

Damaged Merchandise

Items that have suffered physical harm impairing their value, functionality, or saleability, which often result in inventory write-offs or markdowns.

Cost

The amount of money or resources expended to acquire an asset, produce a product, or operate a business activity.

Stockholders' Equity

After subtracting liabilities, the remaining interest in a company's resources represents the stake owned by its shareholders.

Net Income

The company's overall earnings following the deduction of all expenses, taxes, and costs from the gross revenue.