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5 Written questions

5 Matching questions

  1. Revenue expenditures
  2. Straight-line method
  3. Amortization
  4. Depletion
  5. Salvage value
  1. a Expenditures that are immedietely charged against revenues as an expense.
  2. b The allocation of the cost of a natural resource to expense over its useful life in a rational and systematic manner
  3. c The allocation of the cost of an intangible asset to expense over its useful life in a systematic and rational matter
  4. d Depreciation method in which periodic depreciation is the same for each year og the asset's useful life.
  5. e An estimate of an asset's value at the end of its useful life

5 Multiple choice questions

  1. An exclusive right issued by the U.S Patent Office that enables the recipient to manufacture, sell, or otherwise control an invention for a period of 20 years from the date of the grant.
  2. Expenditures that increase a company's investment in productive facilities.
  3. Expenditures that may lead to patents, copyrights, new processes, or a new products.
  4. Costs incurred to increase the operating efficiency, productive efficiency, or useful life of a plant asset
  5. Exclusive grant from the federal government that allows the owner to reproduce and sell an artistic or published work

5 True/False questions

  1. Intangible assetRights, priviliages, and competitive advantages that result from the ownership of long-lived assets that do not possess physical substance

          

  2. Useful lifeThe allocation of the cost of a natural resource to expense over its useful life in a rational and systematic manner

          

  3. Units-of-activity methodDepreciation method in which useful life is expressed in terms of the total units of production or use expected from an asset

          

  4. Depreciable costThe cost of a plant asset minus salvage value

          

  5. Going-concern assumptionStates that the company will continue in operation for the forseeable future

          

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