Match the word to its definition.
| 1. depletion | a) a decrease in the value of a particular currency relative to other currencies |
| 2. book value | b) the estimated value of an asset at the end of its useful life |
| 3. depreciation | c) the value at which an asset is carried on a balance sheet |
| 4. salvage value | d) the process or occurrence of an asset's declining productivity as it ages |
| 5. deterioration | e) decreasing value of functional and physical assets or value of a product or facility from technological changes |
| 6.obsolescence | f) the actual physical reduction of natural resources by companies |
6. Fill in the missing words in the sentences below. Choose from the following: recovery, depreciation expense, estimated, straight-line depreciation, book value, accumulated depreciation account, useful life, depreciable
1.International Robotics changed from... to double-declining balance depreciation at the beginning of 2005.
2. The related... has a balance of $108,000 at the present time.
3. What were the amounts of BFI's... in 2005, 2006, and 2007?
4. Depreciation on the communications equipment is estimated to be $6,600 a year, or $550 per month. This is the $33,000 cost divided by its...of 5 years.
5.... depreciation for the year is $58,500 on the building and $84,100 on the office equipment.
6. Universal Pipes Co. purchased... assets costing $850,000 on April 25, 2007.
7. The company uses the straight-line depreciation method over the... period of 7 years.
8.The... of the lorry at the balance sheet date is $17,454
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