Match Each of the Following Terms with the Appropriate Definitions

question 148

Multiple Choice

Match each of the following terms with the appropriate definitions.
-A method of depreciation that yields larger expense during the early years of an asset's life and smaller expense in the later years.

• A)Revenue expenditure
• B)Units-of production method
• C)Accelerated depreciation
• D)Goodwill
• E)Ordinary repairs
• F)Total asset turnover
• G)Intangible assets
• H)Betterment
• I)Depletion

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Definitions:

Process Innovation

The implementation of a new or significantly improved production or delivery method.

Total Product Curve

A graph showing the relationship between the quantity of input used and the quantity of output produced.

Marginal Cost Curve

A graphical representation showing how the cost of producing one additional unit of a good varies as the production volume changes.

Marginal Utility

The additional satisfaction or utility that a person receives from consuming an additional unit of a good or service.