accounting

> Question 3 5 pts Match the term with its definition. Capital asset Debit Choose Lists current account balances at a certain point in time Annual costs related to the decline in value over time of capital assets Increase revenue & decreases assets and expenses Item of higher value with a relatively long useful life Increase assets & decreases revenue Choose) Credit Trial balance [Choose). Capital expense | Choose Question 4 1 pts Miss Smith has a sore throat and visits her doctor. The doctor examines Miss Smith and provides her a prescription for antibiotics. The charge for the office visit is $100. Miss Smith provides her insurance information to the billing manager and the practice submits a claim to the insurance company. The company classifies the services provided as a Medical Service. When this transaction is entered into the accounting system, the clerk will enter a credit of $100 to which account? Accounts payable Accounts receivable Depreciation Expense Contractual allowances Question 7 1 pts A hospital purchased a new MRI machine. The machine cost $100,000 and is expected to have a useful life of 10 years. Upon making the purchase, Radiology Equipment is credited (increased) for $100,000 and Cash is debited (reduced) for $100,000. Following a basic straight-line depreciation methodology, the depreciation expense that will be booked annually is: $1,000 $10,000 $100 None of these are correct