Solved

Match of the Following

Question 321

Matching

Match of the following

Premises:
The allocation of the cost of a natural resource to expense over its useful life.
Indicates how efficiently a company is able to generate sales with its assets.
Process of allocating the cost of an intangible asset to expense over its useful life.
Can be identified only with a business as a whole.
Examples are franchises and licenses.
Is only recorded when an exchange has commercial substance.
An estimate of the expected productive life of an asset.
Must be expensed when incurred.
When book value of asset is greater than the proceeds received from its sale.
A symbol that identifies a particular enterprise or product.
Responses:
Amortization
Intangible asset
Asset turnover ratio
Goodwill
Loss on disposal
Useful life
Depletion
Gain on disposal
Research costs
Trademark

Correct Answer:

The allocation of the cost of a natural resource to expense over its useful life.
Indicates how efficiently a company is able to generate sales with its assets.
Process of allocating the cost of an intangible asset to expense over its useful life.
Can be identified only with a business as a whole.
Examples are franchises and licenses.
Is only recorded when an exchange has commercial substance.
An estimate of the expected productive life of an asset.
Must be expensed when incurred.
When book value of asset is greater than the proceeds received from its sale.
A symbol that identifies a particular enterprise or product.
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