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5 Written Questions

5 Matching Questions

  1. Revenue expenditures
  2. Plant assets
  3. Ordinary repairs
  4. Accelerated-depreciation method
  5. Additions and improvements
  1. a Expenditures to maintain the operating efficiency and productive life of a unit.
  2. b Tangible resources that are used in the operations of the business and are not intended for sale to customers.
  3. c Costs incurred to increase the operating efficiency, productive efficiency, or useful life of a plant asset
  4. d Depreciation method that produces higher depreciation expense in the early years rather than in the later years
  5. e Expenditures that are immedietely charged against revenues as an expense.

5 Multiple Choice Questions

  1. Exclusive grant from the federal government that allows the owner to reproduce and sell an artistic or published work
  2. An estimate of the expected productive life, also called service life, of an asset
  3. A measure of how efficienly a company uses its assets to generate sales; calculated as net sales divided by average total assets
  4. An estimate of an asset's value at the end of its useful life
  5. Expenditures that increase a company's investment in productive facilities.

5 True/False Questions

  1. GoodwillExclusive grant from the federal government that allows the owner to reproduce and sell an artistic or published work

          

  2. DepletionAn 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.

          

  3. Straight-line methodDepreciation 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

          

  4. PatentAn 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.

          

  5. AmortizationThe allocation of the cost of a natural resource to expense over its useful life in a rational and systematic manner

          

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