Matching
Match each of the appropriate definitions with correct term.
Premises:
The process of allocating the cost of a natural resource to the period when it is consumed.
The amount by which the company's value exceeds the value of its individual assets and liabilities.
A cost reported as an expense on the current income statement because it does not provide a material benefit in future periods.
A measure of a company's effectiveness in using its assets to generate sales.
Nonphysical assets used in operations that give long-term rights or competitive advantages to their owners.
A depreciation method that charges a varying amount to expense for each period of an asset's useful life depending on its usage.
The process of systematically allocating the cost of an intangible asset to expense over its estimated useful life.
Expenditures to keep a plant asset in good operating condition.
An expenditure that makes a plant asset more efficient or productive.
A method of depreciation that yields larger expense during the early years of an asset's life and smaller expense in the later years.
Responses:
Units-of production method
Amortization
Intangible assets
Ordinary repairs
Depletion
Betterment
Goodwill
Revenue expenditure
Total asset turnover
Accelerated depreciation
Correct Answer:
Premises:
Responses:
The process of allocating the cost of a natural resource to the period when it is consumed.
The amount by which the company's value exceeds the value of its individual assets and liabilities.
A cost reported as an expense on the current income statement because it does not provide a material benefit in future periods.
A measure of a company's effectiveness in using its assets to generate sales.
Nonphysical assets used in operations that give long-term rights or competitive advantages to their owners.
A depreciation method that charges a varying amount to expense for each period of an asset's useful life depending on its usage.
The process of systematically allocating the cost of an intangible asset to expense over its estimated useful life.
Expenditures to keep a plant asset in good operating condition.
An expenditure that makes a plant asset more efficient or productive.
A method of depreciation that yields larger expense during the early years of an asset's life and smaller expense in the later years.
Premises:
The process of allocating the cost of a natural resource to the period when it is consumed.
The amount by which the company's value exceeds the value of its individual assets and liabilities.
A cost reported as an expense on the current income statement because it does not provide a material benefit in future periods.
A measure of a company's effectiveness in using its assets to generate sales.
Nonphysical assets used in operations that give long-term rights or competitive advantages to their owners.
A depreciation method that charges a varying amount to expense for each period of an asset's useful life depending on its usage.
The process of systematically allocating the cost of an intangible asset to expense over its estimated useful life.
Expenditures to keep a plant asset in good operating condition.
An expenditure that makes a plant asset more efficient or productive.
A method of depreciation that yields larger expense during the early years of an asset's life and smaller expense in the later years.
Responses:
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