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5 Written Questions

5 Matching Questions

  1. capitalized interest
  2. capital expenditures
  3. patent
  4. straight-line depreciation
  5. licenses and operating rights
  1. a obtained through agreements with governmental units or agencies, permit owners to use public property in performing their services
  2. b method that allocates the cost of an asset in equal periodic amounts over its useful life
  3. c granted by the federal government for an invention, exclusive right is given to the owner to use it
  4. d increase the productive life, operating efficiency, or capacity of the asset and are recorded as increases in asset accounts, not as expenses
  5. e refers to interest expenditures included in the cost of a self-constructed asset

5 Multiple Choice Questions

  1. tangible and intangible resources owned by a business and used in its operations over several years
  2. costs for computer and web development
  3. exclusive legal right to use a special name, image or slogan
  4. have a physical substance 2
  5. acquisition cost of an asset less accumulated depreciation 2

5 True/False Questions

  1. depletionthe process of allocating the cost of buildings and equipment over their productive lives using a systematic and rational method

          

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

          

  3. copyrightgranted by the federal government for an invention, exclusive right is given to the owner to use it

          

  4. salvage valueestimated amount to be recovered by the company at the end of the asset's estimate useful life 2

          

  5. tangible assetshave a physical substance

          

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