Terms in Accounting

4. assets also known as tangible assets or property, plant, and equipment (PP&E)—is an accounting term for assets and property that cannot be easily converted into cash.
5. is an example of asset that deplete.
6. it is the amount which is estimated to be realized from the asset when it
9. applies to the reduction of the usefulness of an asset caused by inadequacy of the asset to meet the demands upon it or the loss of usefulness because of progress, technological development, and
10. is defined as the ground the company uses for business operations.
12. retired from use.
15. is classified as a current asset on a company's balance sheet, and it serves as a buffer between manufacturing and order fulfillment.
16. is a system of inventory in which updates are made on a periodic basis.
18. the things which are bought and sold by business.

1. refers to the reduction of recorded cost of a fixed asset in a systematic manner until the
2. is a method of inventory management that records real-time transactions of received or sold stock through the use of technology – generally considered a more efficient method than a periodic inventory system.
3. of the asset becomes zero or negligible.
7. includes machinery, furniture, fixtures, vehicles, computers, electronic devices, and office machines.
8. inventories the running balance of the subsidiary records.
11. is a resource with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide a future benefit.
13. assets is an asset with a useful life of more than one year that is used in producing revenues in a business's operations.
14. is an example of an asset that depreciate.
17. refers to the monetary value of expenditures for raw materials, equipment, supplies, services, labor, products, etc.