101) Match the following terms with the appropriate definitions below. Definitions have not been provided for all of these terms. a. Cost b. Residual value c. Useful life d. Depreciation ...

101) Match the following terms with the appropriate definitions below. Definitions have not been provided for all of these terms.

a. Cost

b. Residual value

c. Useful life

d. Depreciation

e. Accrued revenue

f. Accrued expense

g. Long-term asset

______ 1. The estimated length of time that a long-term asset is expected to benefit the company that owns it

______ 2. The estimated amount a long-term asset will be worth at the end of its estimated useful life

______ 3. An asset that is expected to be useful or beneficial for more than one accounting period

______ 4. An allocation of a long-term asset’s cost to an expense account over the periods of time when the asset is used

______ 5. The amount sacrificed in order to purchase an asset