Choose the Best Description of Depreciable Cost

question 164

Multiple Choice

Choose the best description of depreciable cost.

• A) Minimum book value
• B) Book value
• C) Salvage value
• D) Original cost less salvage value

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Definitions:

Salaries Payable

An account that records the amount owed to employees for work performed but not yet paid.

Payroll

The total amount paid to employees for services they provided during a certain period of time.

Accrued Revenues

Revenues earned in one accounting period but not received until a later period.

Adjusting Entry

A journal entry made in accounting records to update the balances of accounts at the end of an accounting period.