Match the correct answer with these terms : cash, cell, SL depreciation, tangible, fiscal, a calender, cost, replacement cost, liabilities, GAAP It assumes that an equal share of the total depreciation is taken each year during the assets life. Answer 1 Is a one-year period that companies use for financial reporting Answer 2 A set of rules used as a basis for financial reporting Answer 3 Assets having physical substance or form. Answer 4 The amount creditors expect you to pay in the future Answer 5 The value of what was given up to acquire the item. Answer 6 The asset was valued at the amount it would cost to replace the asset Answer 7 The accounting system that records revenue when cash is received from customers and expenses when cash is paid Answer 8 The intersection of a column and row. Answer 9 A one-year accounting period ends that occurs at December 31. Answer 10
Match the correct answer with these terms : cash, cell, SL
|
It assumes that an equal share of the total depreciation is taken each year during the assets life.
|
Answer 1 |
|
Is a one-year period that companies use for financial reporting |
Answer 2 |
|
A set of rules used as a basis for financial reporting
|
Answer 3 |
|
Assets having physical substance or form. |
Answer 4 |
|
The amount creditors expect you to pay in the future |
Answer 5 |
|
The value of what was given up to acquire the item.
|
Answer 6 |
|
The asset was valued at the amount it would cost to replace the asset |
Answer 7 |
|
The accounting system that records revenue when cash is received from customers and expenses when cash is paid
|
Answer 8 |
|
The intersection of a column and row. |
Answer 9 |
|
A one-year accounting period ends that occurs at December 31. |
Answer 10 |
Step by step
Solved in 2 steps with 2 images
