5 Written questions
5 Matching questions
- Declining-balance method
- Asset turnover ratio
- Ordinary repairs
- Depreciable cost
- a Depreciation method that applies a constant rate to the declining book value of the asset and produces a decreasing annual depreciation expense over the useful life of the asset
- b The cost of a plant asset minus salvage value
- c Expenditures to maintain the operating efficiency and productive life of a unit.
- d A measure of how efficienly a company uses its assets to generate sales; calculated as net sales divided by average total assets
- e The allocation of the cost of an intangible asset to expense over its useful life in a systematic and rational matter
5 Multiple choice questions
- Assets that consist of standing timber and underground deposits of oil,gas, or minerals
- A word,phrase,jingle, or symbol that identifies a particular enterprise or product.
- States that the company will continue in operation for the forseeable future
- Operating rights to use public property, granted to a business enterprise by a governmental agency.
- Expenditures that may lead to patents, copyrights, new processes, or a new products.
5 True/False questions
Materiality Priciple → Assets that consist of standing timber and underground deposits of oil,gas, or minerals
Revenue expenditures → Expenditures that are immedietely charged against revenues as an expense.
Copyright → 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.
Accelerated-depreciation method → Depreciation method in which useful life is expressed in terms of the total units of production or use expected from an asset
Units-of-activity method → Depreciation method in which periodic depreciation is the same for each year og the asset's useful life.