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5 Written questions

5 Matching questions

  1. Salvage value
  2. Straight-line method
  3. Units-of-activity method
  4. Depreciable cost
  5. Accelerated-depreciation method
  1. a Depreciation method in which useful life is expressed in terms of the total units of production or use expected from an asset
  2. b Depreciation method in which periodic depreciation is the same for each year og the asset's useful life.
  3. c An estimate of an asset's value at the end of its useful life
  4. d The cost of a plant asset minus salvage value
  5. e Depreciation method that produces higher depreciation expense in the early years rather than in the later years

5 Multiple choice questions

  1. An estimate of the expected productive life, also called service life, of an asset
  2. Expenditures that may lead to patents, copyrights, new processes, or a new products.
  3. A measure of how efficienly a company uses its assets to generate sales; calculated as net sales divided by average total assets
  4. Expenditures that are immedietely charged against revenues as an expense.
  5. Tangible resources that are used in the operations of the business and are not intended for sale to customers.

5 True/False questions

  1. Additions and improvementsCosts incurred to increase the operating efficiency, productive efficiency, or useful life of a plant asset

          

  2. Declining-balance 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

          

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

          

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

          

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