Match the terms with the definitions.
-If one asset is traded in on the purchase of another similar asset, an allowance may be granted.
A)Accelerated Cost Recovery System (ACRS)
B)intangible assets
C)Modified Accelerated Cost Recovery System (MACRS)
D)book value
E)cash equivalent price
F)conservatism
G)straight-line method
H)tangible assets
I)depletion
J)depreciable cost (base)
K)trade-in allowance (trade value)
L)double-declining-balance method
M)functional depreciation
N)units-of-production method

Question

Quizplus · Accepted Answer

Trade-in allowance (also called trade value) is the term used when one asset is traded in on the purchase of another similar asset, and an allowance may be granted.

Match the Terms with the Definitions