Listed below are five terms followed by a list of phrases that describe or characterize the terms.Match each phrase with the best term placing the letter designating the term in the space provided.
a.Accumulated depreciation
b.Book value
c.Depreciation
d.Residual value
e.Service life
Phrases:
_____ Also referred to as salvage value,is the amount the company expects to receive from selling the asset at the end of its service life.
_____ Allocating the cost of a tangible asset over its service life.
_____ Equal to the original cost of the asset minus the current balance in accumulated depreciation.
_____ A contra-asset account representing the total depreciation taken to date.
_____ How long the company expects to receive benefits from the asset before disposing of it.

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The Answer of Listed below are five terms followed by a list of phrases that describe or characterize the terms.Match each phrase with the best term placing the letter designating the term in the space provided.
a.Accumulated depreciation
b.Book value
c.Depreciation
d.Residual value
e.Service life
Phrases:
_____ Also referred to as salvage value,is the amount the company expects to receive from selling the asset at the end of its service life.
_____ Allocating the cost of a tangible asset over its service life.
_____ Equal to the original cost of the asset minus the current balance in accumulated depreciation.
_____ A contra-asset account representing the total depreciation taken to date.
_____ How long the company expects to receive benefits from the asset before disposing of it.

Listed Below Are Five Terms Followed by a List of Phrases