5 Written questions
5 Matching questions
- Salvage value
- Plant assets
- Straight-line method
- a The allocation of the cost of an intangible asset to expense over its useful life in a systematic and rational matter
- b An estimate of an asset's value at the end of its useful life
- c The allocation of the cost of a natural resource to expense over its useful life in a rational and systematic manner
- d Depreciation method in which periodic depreciation is the same for each year og the asset's useful life.
- e Tangible resources that are used in the operations of the business and are not intended for sale to customers.
5 Multiple choice questions
- 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
- The cost of a plant asset minus salvage value
- Depreciation method that produces higher depreciation expense in the early years rather than in the later years
- Costs incurred to increase the operating efficiency, productive efficiency, or useful life of a plant asset
- Expenditures that increase a company's investment in productive facilities.
5 True/False questions
trademark → An 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.
Natural Resources → Expenditures that increase a company's investment in productive facilities.
Asset turnover ratio → The allocation of the cost of an intangible asset to expense over its useful life in a systematic and rational matter
Licenses → Operating rights to use public property, granted to a business enterprise by a governmental agency.
Copyright → Exclusive grant from the federal government that allows the owner to reproduce and sell an artistic or published work