1.As time passes, property, plant, and equipment other than land lose their capacity to provide useful services. To account for this decrease in usefulness, the cost of capital assets is systematically allocated to expense. What is this process called?

a.

accumulation

b.

depreciation

c.

matching

d.

equipment allocation

1 points

Question 15

1. Which of the following procedures describe the entry to adjust the accounts for wages accrued at the end of the accounting period?

a.

debit Wages Payable; credit Wages Expense.

b.

debit Wages Expense; credit Wages Payable.

c.

debit Wages Income; credit Wages Payable.

d.

debit Wages Payable; credit Wages Income.