ACCT 2 Chp 14-15

Revenue earned in one fiscal period but not received until a later fiscal period.

• Accrued Revenue

• Accrued Interest

• Marginal Tax Rate

• Tax Bracket

• Useful Life

The tax rate associated with a tax bracket.

• Accrued Revenue

• Accrued Interest

• Marginal Tax Rate

• Tax Bracket

• Useful Life

Each tax rate and taxable income amount on one line of a tax table.

• Accrued Revenue

• Accrued Interest

• Marginal Tax Rate

• Tax Bracket

• Useful Life

The period of time over which an asset contributes to the earnings of a business.

• Accrued Revenue

• Accrued Interest

• Marginal Tax Rate

• Tax Bracket

• Useful Life

A written and signed promise to pay a sum of money at a specified term.

• Promissory note

• Maker of a note

• Note payable

• Accounts payable

• Dishonored Note

The person or business that signs a note and thus promises to make payment.

• Promissory note

• Maker of a note

• Note payable

• Accounts payable

• Dishonored Note

A promissory note signed by a business and given to a creditor.

• Promissory note

• Maker of a note

• Note payable

• Accounts payable

• Dishonored Note

The amount that will be received for an asset at the time of its disposal.

• Salvage value

• Plant assets

• Accumulated depreciation

• Depreciation

• Depreciation expense

Physical assets that will be used for a number of years in the operation of a business.

• Salvage value

• Plant assets

• Accumulated depreciation

• Depreciation

• Depreciation expense

The total amount of depreciation expense that has been recorded since the purchase of a plant asset.

• Salvage value

• Plant assets

• Accumulated depreciation

• Depreciation

• Depreciation expense