Matching
Match the following definitions with the appropriate term
Premises:
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.
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.
Expenditures to keep a plant asset in normal, good operating condition.
The process of allocating the cost of a natural resource to the period when it are consumed.
A measure of a company's effectiveness in using its assets to generate sales.
The process of systematically allocating the cost of an intangible asset to expense over its estimated useful life.
A depreciation method that charges a varying amount to expense for each period of an asset's useful life depending on its usage.
Certain nonphysical assets used in operations that confer long-term rights, privileges, or competitive advantages on their owners.
Responses:
Depletion
Betterment
Ordinary repairs
Units-of production method
Intangible assets
Accelerated depreciation
Amortization
Goodwill
Total asset turnover
Revenue expenditure
Correct Answer:
Premises:
Responses:
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.
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.
Expenditures to keep a plant asset in normal, good operating condition.
The process of allocating the cost of a natural resource to the period when it are consumed.
A measure of a company's effectiveness in using its assets to generate sales.
The process of systematically allocating the cost of an intangible asset to expense over its estimated useful life.
A depreciation method that charges a varying amount to expense for each period of an asset's useful life depending on its usage.
Certain nonphysical assets used in operations that confer long-term rights, privileges, or competitive advantages on their owners.
Premises:
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.
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.
Expenditures to keep a plant asset in normal, good operating condition.
The process of allocating the cost of a natural resource to the period when it are consumed.
A measure of a company's effectiveness in using its assets to generate sales.
The process of systematically allocating the cost of an intangible asset to expense over its estimated useful life.
A depreciation method that charges a varying amount to expense for each period of an asset's useful life depending on its usage.
Certain nonphysical assets used in operations that confer long-term rights, privileges, or competitive advantages on their owners.
Responses:
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