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5 Written questions

5 Matching questions

  1. technology
  2. natural resources
  3. declining-balance depreciation
  4. estimated useful life
  5. patent
  1. a this method allocates the cost of an asset over its useful life based on a multiple of the straight-line rate
  2. b costs for computer and web development
  3. c granted by the federal government for an invention, exclusive right is given to the owner to use it
  4. d assets that occur in nature, such as mineral deposits, timber tracts, oil and gas
  5. e expected service life of an asset to the present owner

5 Multiple choice questions

  1. expenditures for normal operating upkeep of long-lived assets
  2. have a physical substance 2
  3. excess of the purchase price of a business over the fair value of the business's assets and liabilities 2
  4. method that allocates the cost of an asset in equal periodic amounts over its useful life
  5. 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

5 True/False questions

  1. intangible assetshave a physical substance

          

  2. licenses and operating rightsobtained through agreements with governmental units or agencies, permit owners to use public property in performing their services

          

  3. carrying valueacquisition cost of an asset less accumulated depreciation 2

          

  4. capitalized interestrefers to interest expenditures included in the cost of a self-constructed asset

          

  5. franchiseexclusive legal right to use a special name, image or slogan

          

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