The asset account has a………….balance.

The provision for depreciation …………up the amount of depreciation year by year.

The reducing balance method is also termed the………….balance method.

Any increase in a depreciation provision is credited to the Profit and Loss account.

When a fixed asset is sold, there are ………… elements to take account of.

If you take no account year-by-year of the fall in value of fixed assets, the value of assets in the balance sheet is ………

In the account of provision for depreciation, it is only necessary to ……….down the balance once two entries have been made.

In the balance sheet, each fixed asset is shown at………..less total depreciation to date.

Any increase in the provision for doubtful debt will be debited to the P/L account.

The provision for doubtful debt has a credit balance.

Any decrease in the provision for doubtful debts is a ……….. to the firm.

A provision for doubtful debt is set at a ………….of debtors.

Bad debts are debts that the business is unable to………..

The balance sheet will show the total of debtor before writing off bad debts.

The bad debts account serves as a ………….point for debts written off over the year.

Any decrease in the provision for doubtful debt will be seen as an expense to the firm.

An accrued expense is shown as an amount due within 1 year in the balance sheet.

An accrual of expense remains ………at the end of that period.

An accrued expense is shown amongst the liabilities in the balance sheet.

A prepaid expense requires no year-end adjustment.