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ale4655 [162]
2 years ago
11

What is the name for the decrease in value of a fixed asset as it gets used and worn out over time?

Business
2 answers:
andre [41]2 years ago
8 0
Depreciation is the name
bonufazy [111]2 years ago
6 0

Answer:

Depreciation

Explanation:

This is the constant drop in the values of an asset over a given period of time.  With depreciation, the efficiency and effectiveness of such asset withers.

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The statement that the percent sales method for estimating bad debts for a company, will only use those balances in the income statement is False.

<h3>What is the percent of sales method?</h3>

The percent of sales method is one of the methods that companies can use to estimate the bad debts that it expects in a given period. Bad debts refer to those Account Receivables that will not pay the company back even after they have taken goods or services on credit. In order to be able to use the percent of sales method, the sales of a company need to be known.

The sales that a company makes includes both the sales that the company made and the accounts receivable. The Accounts Receivables go to the Balance Sheet and Sales go to the Income Statement. This means that the Balance Sheet balances are used as well as Income Statement balances and not just the latter.

Find out more on the percent of sales method at brainly.com/question/13958992

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