1. What term means "a rational allocation of cost over a period of time"?

Group of answer choices

Supplies

Equipment

Payroll

Depreciation

2. As of December 31st, a company has assets of $2,500 and stockholders' equity of $1,000. What are the liabilities of the company?

Group of answer choices

$1,000

$3,500

$1,500

$2,000