Solved

A Partner Who Handles the Financial Side of the Business

Question 10

Multiple Choice

A partner who handles the financial side of the business estimates that a new machine will useful for 10 years before it will have to be replaced.He plans to allocate one-tenth of the cost to each year that the machine is in use.What is the proper accounting term for this cost?


A) allocation
B) asset usage
C) depreciation
D) appropriation

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q5: What structures the flow of financial information

Q6: Debt ratio is the ratio of total

Q7: The major difference between cash-basis accounting and

Q8: Which statement best describes cash budgets?<br>A) They

Q9: What does working-capital management focus on?<br>A) cash,accounts

Q11: A financial manager reviews the firm's cash

Q12: An accounting supervisor informs a college co-op

Q13: During the month of January,a company had

Q14: Financial leverage decreases a firm's return on

Q15: A company's manager of finance and administration