Matching
Match the following definitions with the appropriate terms
Premises:
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.
Major repairs that extend the useful life of a plant asset beyond its original estimate.
The process of allocating the cost of natural resources to the periods when they are consumed.
An exclusive right granted to its owner to manufacture and sell an item or to use a process, for 20 years.
Assets that increase the benefits of land, have a limited useful life and are subject to depreciation.
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 50 years.
The process of allocating the cost of an intangible asset to expense over its estimated useful life.
An estimate of an asset's value at the end its benefit period.
The total cost of a plant asset less its accumulated depreciation.
The insufficient capacity of plant assets to meet the company's productive demands.
Responses:
Salvage value
Extraordinary repairs
Amortization
Copyright
Obsolescence
Book value
Depletion
Patent
Inadequacy
Land improvements
Correct Answer:
Premises:
Responses:
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.
Major repairs that extend the useful life of a plant asset beyond its original estimate.
The process of allocating the cost of natural resources to the periods when they are consumed.
An exclusive right granted to its owner to manufacture and sell an item or to use a process, for 20 years.
Assets that increase the benefits of land, have a limited useful life and are subject to depreciation.
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 50 years.
The process of allocating the cost of an intangible asset to expense over its estimated useful life.
An estimate of an asset's value at the end its benefit period.
The total cost of a plant asset less its accumulated depreciation.
The insufficient capacity of plant assets to meet the company's productive demands.
Premises:
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.
Major repairs that extend the useful life of a plant asset beyond its original estimate.
The process of allocating the cost of natural resources to the periods when they are consumed.
An exclusive right granted to its owner to manufacture and sell an item or to use a process, for 20 years.
Assets that increase the benefits of land, have a limited useful life and are subject to depreciation.
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 50 years.
The process of allocating the cost of an intangible asset to expense over its estimated useful life.
An estimate of an asset's value at the end its benefit period.
The total cost of a plant asset less its accumulated depreciation.
The insufficient capacity of plant assets to meet the company's productive demands.
Responses:
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