Multiple Choice
Match the following terms with their definitions.
-Trade-in
A) Residual value not deducted in calculation
B) Even amount of depreciation expense each year
C) Depreciation based on usage
D) Depreciation that has been built up
E) An allocation of the cost of an asset
F) Estimated life of asset
G) Cost minus accumulated depreciation
H) 1 divided by number of years of expected life
I) A table showing depreciation allocation
J) Estimated value after AFIC depreciation taken
K) Result of Tax Reform Act of 1986
L) Salvage value
Correct Answer:

Verified
Correct Answer:
Verified
Q7: Jay Corp. bought a machine for $15,000.
Q8: Land can be depreciated.
Q9: Cost minus residual divided by number of
Q10: In the straight-line method, book value never
Q11: John Morse Corporation buys a van for
Q13: Complete the following (use the straight-line
Q14: Which one is not based on the
Q15: Using the declining-balance method, complete the
Q16: Complete:<br> <span class="ql-formula" data-value="\begin{array} {
Q17: Match the following terms with their definitions.<br>-Units-of-production