Matching
Match each of the following terms with the appropriate definitions.
Premises:
Assets that increase the benefits of land, have a limited useful life, and are subject to depreciation.
The total cost of a plant asset less its accumulated depreciation.
The insufficient capacity of plant assets to meet the company's productive demands.
Major repairs that extend the useful life of a plant asset beyond its original estimate.
An estimate of an asset's value at the end its benefit period.
An exclusive right granted to its owner to manufacture and sell an item, or to use a process, for 20 years.
The process of allocating the cost of an intangible asset to expense over its estimated useful life.
A condition which, because of new inventions and improvements, a plant asset is no longer useful in producing goods or services with a competitive advantage.
The process of allocating the cost of natural resources to the periods when they are consumed.
A right granted that gives its owner the exclusive privilege to publish and sell musical, literary, or artistic work during the life of the creator plus 70 years.
Responses:
Obsolescence
Patent
Copyright
Inadequacy
Depletion
Extraordinary repairs
Salvage value
Land improvements
Book value
Amortization
Correct Answer:
Premises:
Responses:
Assets that increase the benefits of land, have a limited useful life, and are subject to depreciation.
The total cost of a plant asset less its accumulated depreciation.
The insufficient capacity of plant assets to meet the company's productive demands.
Major repairs that extend the useful life of a plant asset beyond its original estimate.
An estimate of an asset's value at the end its benefit period.
An exclusive right granted to its owner to manufacture and sell an item, or to use a process, for 20 years.
The process of allocating the cost of an intangible asset to expense over its estimated useful life.
A condition which, because of new inventions and improvements, a plant asset is no longer useful in producing goods or services with a competitive advantage.
The process of allocating the cost of natural resources to the periods when they are consumed.
A right granted that gives its owner the exclusive privilege to publish and sell musical, literary, or artistic work during the life of the creator plus 70 years.
Premises:
Assets that increase the benefits of land, have a limited useful life, and are subject to depreciation.
The total cost of a plant asset less its accumulated depreciation.
The insufficient capacity of plant assets to meet the company's productive demands.
Major repairs that extend the useful life of a plant asset beyond its original estimate.
An estimate of an asset's value at the end its benefit period.
An exclusive right granted to its owner to manufacture and sell an item, or to use a process, for 20 years.
The process of allocating the cost of an intangible asset to expense over its estimated useful life.
A condition which, because of new inventions and improvements, a plant asset is no longer useful in producing goods or services with a competitive advantage.
The process of allocating the cost of natural resources to the periods when they are consumed.
A right granted that gives its owner the exclusive privilege to publish and sell musical, literary, or artistic work during the life of the creator plus 70 years.
Responses:
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