Accumulated Depreciation

question 63

Multiple Choice

Accumulated Depreciation

• A) is used to show the amount of cost expiration of intangibles
• B) is the same as Depreciation Expense
• C) is a contra asset account
• D) is used to show the amount of cost expiration of natural resources

---

Definitions:

Marginal Revenue Curve

A graph that shows the additional revenue a firm earns from selling one more unit of a good or service.

Upward Sloping

A characteristic of a graph or curve that rises from left to right, indicating a positive relationship between two variables.

Perfectly Competitive Firm

A business operating in a market where no single firm can influence the market price or market conditions, facing many competitors and selling identical products.

Long Run

A period sufficient for all inputs to production, including capital, to be varied.