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5 Written questions

5 Matching questions

  1. trademark
  2. residual value
  3. licenses and operating rights
  4. goodwill
  5. salvage value
  1. a excess of the purchase price of a business over the fair value of the business's assets and liabilities
  2. b estimated amount to be recovered by the company at the end of the asset's estimate useful life 2
  3. c obtained through agreements with governmental units or agencies, permit owners to use public property in performing their services
  4. d estimated amount to be recovered by the company at the end of the asset's estimate useful life
  5. e exclusive legal right to use a special name, image or slogan

5 Multiple choice questions

  1. systematic and rational allocation of the cost of a natural resource over the period of its exploitation
  2. have a physical substance 2
  3. a method that allocates the cost of an asset over its useful life based on the relation of its periodic output to its total estimate output
  4. costs for computer and web development
  5. increase the productive life, operating efficiency, or capacity of the asset and are recorded as increases in asset accounts, not as expenses

5 True/False questions

  1. long-lived assetshave a physical substance

          

  2. depreciationsystematic and rational allocation of the cost of a natural resource over the period of its exploitation

          

  3. straight-line depreciationmethod that allocates the cost of an asset in equal periodic amounts over its useful life

          

  4. ordinary repairs and maintenanceinfrequent expenditures that increase an assets economic usefulness in the future

          

  5. acquisition costsystematic and rational allocation of the acquisition cost of an intangible asset over its useful life

          

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