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5 Written questions

5 Matching questions

  1. Declining-balance method
  2. Asset turnover ratio
  3. Ordinary repairs
  4. Amortization
  5. Depreciable cost
  1. 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
  2. b The cost of a plant asset minus salvage value
  3. c Expenditures to maintain the operating efficiency and productive life of a unit.
  4. d A measure of how efficienly a company uses its assets to generate sales; calculated as net sales divided by average total assets
  5. 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

  1. Assets that consist of standing timber and underground deposits of oil,gas, or minerals
  2. A word,phrase,jingle, or symbol that identifies a particular enterprise or product.
  3. States that the company will continue in operation for the forseeable future
  4. Operating rights to use public property, granted to a business enterprise by a governmental agency.
  5. Expenditures that may lead to patents, copyrights, new processes, or a new products.

5 True/False questions

  1. Materiality PricipleAssets that consist of standing timber and underground deposits of oil,gas, or minerals

          

  2. Revenue expendituresExpenditures that are immedietely charged against revenues as an expense.

          

  3. CopyrightAn 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.

          

  4. Accelerated-depreciation methodDepreciation method in which useful life is expressed in terms of the total units of production or use expected from an asset

          

  5. Units-of-activity methodDepreciation method in which periodic depreciation is the same for each year og the asset's useful life.

          

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