Unit 4 Multiple Choice — Tax Accounting vs GAAP

DEMO MODE:

DEMO MODE: You're trying this activity as a guest! Sign in or Create a free account to save your scores and earn certificates.

INSTRUCTIONS:

INSTRUCTIONS: Select the best definition (or usage) of the key term (or phrase) below.

noun (thing)

Question 1 of 15

Depreciation

The common set of standards and procedures used by companies when preparing financial statements.

A firm which is permitted to sell shares in the firm to the general public.

The method of allocating the cost of an asset over its useful life.

0% correct