Select the one term that best fits each definition
-A decrease in equity resulting from activity other than selling goods or services.
A) accelerated depreciation
B) amortization
C) assessed value
D) declining-balance method of depreciation
E) double declining-balance method of depreciation
F) gain
G) gain on plant assets
H) intangible assets
I) loss
J) loss on plant assets
K) personal property
L) plant asset record
M) real property
N) return on investment (ROI)

Question

Quizplus · Accepted Answer

A loss is a decrease in equity resulting from activities other than selling goods or services, such as the sale of an asset for less than its book value.

Select the One Term That Best Fits Each Definition