1) Instead of the physical life of an asset, depreciation is based on the _________ life of the asset.
2) This is to natural resources as depreciation is to constructed assets used in a business.
3) When the cash proceeds from the sale of an asset used in the business is less than the asset's book value at the time of the sale, it results in a ________ being reported on the income statement.
4) The cost of an asset minus the asset's accumulated depreciation is the asset's ___________ value.
5) A change in an estimate will not change the amounts reported in _____________ years.
6) Changing the useful life of an asset will change the reported amounts of depreciation for the current year and the ___________ years.
7) An estimated value used in computing depreciation.
8) The cost of an asset minus the estimated salvage value is the asset's ________________ cost.
9) The sum-of-the-years' __________ is an accelerated depreciation method.
10) Another name for the estimated scrap or salvage value of an asset at the end of its useful life.
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