FBLA REVISION PAPER 2025/2026 (QUESTIONS WITH
100% CORRECT
Return on investment - The ration of the money earned on investment relative to the amount of the
investment.
Real property - Land and anything attached to the land.
Personal property - All property not classified as real property.
Assessed value - The value of an asset determined by tax authorities for the purpose of calculating
taxes.
Plant asset record - An accounting form on which a business records information about each plant
asset.
Gain - An increase in equity resulting from activity other than selling goods or services.
Gain on plant assets - An increase in equity that results when a plant asset is sold for more than book
value.
Loss - A decrease in equity resulting from activity other than selling goods or services.
Loss on plant assets - The decrease in equity that results when a plant asset is sold for less than book
value.
Accelerated depreciation - Any method of depreciation which records greater depreciation expense
in the early years and less depreciation expense in the later years.
Declining-balance method of depreciation - A type of accelerated depreciation that multiplies the
book value of an asset by a constant depreciation rate to determine annual depreciation.
Double-declining balance method of depreciation - A declining-balance rate that is two times the
straight-line rate.
, Intangible asset - An asset that does not have physical substance.
Amortization - The spreading of the cost of an intangible asset over its useful life.
real property - land and anything attached to the land
personal property - all property not classified as real property
assessed value - The value of an asset determined by tax authorities for the purpose of calculating
taxes
plant asset record - An accounting form on which a business records information about each plant
asset.
gain on plant assets - Revenue that results when a plant asset is sold for more than book value.
loss on plant assets - The loss that results when a plant asset is sold for less than book value.
payroll - list of a business's employees and the payment due to each employee for a specific pay
period
pay period - amount of time for which an employee is paid
payroll clerk - a person who is responsible for preparing the payroll
gross earnings - total amount of money earned by an employee in a pay period
salary - fixed amount of money paid to an employee for each pay period
wage - amount of money paid to an employee at a specificed rate per hour worked
100% CORRECT
Return on investment - The ration of the money earned on investment relative to the amount of the
investment.
Real property - Land and anything attached to the land.
Personal property - All property not classified as real property.
Assessed value - The value of an asset determined by tax authorities for the purpose of calculating
taxes.
Plant asset record - An accounting form on which a business records information about each plant
asset.
Gain - An increase in equity resulting from activity other than selling goods or services.
Gain on plant assets - An increase in equity that results when a plant asset is sold for more than book
value.
Loss - A decrease in equity resulting from activity other than selling goods or services.
Loss on plant assets - The decrease in equity that results when a plant asset is sold for less than book
value.
Accelerated depreciation - Any method of depreciation which records greater depreciation expense
in the early years and less depreciation expense in the later years.
Declining-balance method of depreciation - A type of accelerated depreciation that multiplies the
book value of an asset by a constant depreciation rate to determine annual depreciation.
Double-declining balance method of depreciation - A declining-balance rate that is two times the
straight-line rate.
, Intangible asset - An asset that does not have physical substance.
Amortization - The spreading of the cost of an intangible asset over its useful life.
real property - land and anything attached to the land
personal property - all property not classified as real property
assessed value - The value of an asset determined by tax authorities for the purpose of calculating
taxes
plant asset record - An accounting form on which a business records information about each plant
asset.
gain on plant assets - Revenue that results when a plant asset is sold for more than book value.
loss on plant assets - The loss that results when a plant asset is sold for less than book value.
payroll - list of a business's employees and the payment due to each employee for a specific pay
period
pay period - amount of time for which an employee is paid
payroll clerk - a person who is responsible for preparing the payroll
gross earnings - total amount of money earned by an employee in a pay period
salary - fixed amount of money paid to an employee for each pay period
wage - amount of money paid to an employee at a specificed rate per hour worked
