Cars and scooters are assets that typically lose value over time and eventually cost more to operate than they are worth.

A(n) ________ is something you own that has economic value.

Cash, as well as checking and savings accounts, are examples of

The price you pay for an asset at the time of purchase is the

________ is what you would pay to buy a newer version of the same asset.

________ is the decrease in an asset's value over the lifetime of the asset caused by wear and tear.

________ are typical operating costs for a car.

Depreciation is calculated by

By selling a piece of land for cash, you are turning

________ is an example of replacing a depreciating asset with another depreciating asset.

If Carlos buys an antique watch at a junk shop for $7.50 and learns from a watchmaker that it is actually worth $25.00, his historical cost is

If Carlos loses his antique watch, for which he paid $7.50, and decides to buy a new one for $12.00, his replacement cost is

Carlos' uncle invested in real estate in 1985, paying $5,000.00 for a piece of land. Recently, he sold the land for $25,000.00. Therefore, the depreciation on the land was

Marie's father bought a used car for $10,000.00 five years ago. In another ten years, it will be worth $400.00. By how much does the car depreciate each year?

One example of exchanging a liquid asset for a fixed asset is

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