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of 26 available terms

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5 Written Questions

5 Matching Questions

  1. Depreciable cost
  2. Goodwill
  3. Capital expenditures
  4. Depletion
  5. Straight-line method
  1. a The value of all favorable attributes that relate to a business enterprise.
  2. b The cost of a plant asset minus salvage value
  3. c The allocation of the cost of a natural resource to expense over its useful life in a rational and systematic manner
  4. d Expenditures that increase a company's investment in productive facilities.
  5. e Depreciation method in which periodic depreciation is the same for each year og the asset's useful life.

5 Multiple Choice Questions

  1. A word,phrase,jingle, or symbol that identifies a particular enterprise or product.
  2. Rights, priviliages, and competitive advantages that result from the ownership of long-lived assets that do not possess physical substance
  3. An estimate of an asset's value at the end of its useful life
  4. Exclusive grant from the federal government that allows the owner to reproduce and sell an artistic or published work
  5. Expenditures that are immedietely charged against revenues as an expense.

5 True/False Questions

  1. Materiality PricipleIf an item would not make a difference in decision making, a company does not have to follow GAAP in reporting it.

          

  2. PatentOperating rights to use public property, granted to a business enterprise by a governmental agency.

          

  3. Declining-balance methodDepreciation method in which periodic depreciation is the same for each year og the asset's useful life.

          

  4. AmortizationThe allocation of the cost of an intangible asset to expense over its useful life in a systematic and rational matter

          

  5. Asset turnover ratioA measure of how efficienly a company uses its assets to generate sales; calculated as net sales divided by average total assets

          

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