Start learning →

Match the accounting term

Exercise and reference answers

Matching pairs
  1. Left
    Depreciation
    Right
    Part of a fixed asset's cost used up
  2. Left
    Obsolescence
    Right
    Going out of date as models change
  3. Left
    Provision
    Right
    Charge made against the profits
Instructions
Match each term to what it means.

Explanation

_Source: syllabus Accountancy, Ch 7 'Depreciation, Provisions and Reserves'_
Try this exercise with Quill →

Browse more AP Intermediate 1st Year questions and exercises →