Acct. 1 Ch. 14 & 15 (B)

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

• book value

• accumulated depreciation

• salvage value

• net realized value

the amount that is due on the maturity date of a note

• principal

• maturity date

• maturity value

• note

The marginal tax rate increases as the net income before federal income tax increases.

• True
• False

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

• dishonored note

• note payable

• note receivable

• promissory note

All accounts are listed on the unadjusted trial balance regardless of whether there is a balance or not.

• True
• False

A note that is not paid when due

• note receivable

• dishonored note

• promissory note

• note payable

The date on which the principal of a note is due to be repaid

• principal

• maturity date

• maturity value

• final date

the adjustment unique to merchandising businesses adjusts

• accounts receivable

• accumulated depreciation

• merchandise inventory

• prepaid insurance

The annual straight-line depreciation of equipment costing $7,000.00 with a salvage value of $1,000.00 and a useful life of 5 years would be $1,400.00.

• True
• False

A written and signed promise to pay a sum of money at a specific time

• promissory note

• dishonored note

• note payable

• note receivable