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5 Written questions

5 Matching questions

  1. units-of-production depreciation
  2. depletion
  3. declining-balance depreciation
  4. amortization
  5. residual value
  1. a systematic and rational allocation of the acquisition cost of an intangible asset over its useful life
  2. b 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
  3. c systematic and rational allocation of the cost of a natural resource over the period of its exploitation
  4. d estimated amount to be recovered by the company at the end of the asset's estimate useful life
  5. e this method allocates the cost of an asset over its useful life based on a multiple of the straight-line rate

5 Multiple choice questions

  1. have special rights but not physical substance
  2. increase the productive life, operating efficiency, or capacity of the asset and are recorded as increases in asset accounts, not as expenses
  3. infrequent expenditures that increase an assets economic usefulness in the future
  4. excess of the purchase price of a business over the fair value of the business's assets and liabilities
  5. method that allocates the cost of an asset in equal periodic amounts over its useful life

5 True/False questions

  1. revenue expendituresincrease the productive life, operating efficiency, or capacity of the asset and are recorded as increases in asset accounts, not as expenses

          

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

          

  3. cost in excess of net assets acquiredhave special rights but not physical substance

          

  4. licenses and operating rightsmaintain the productive capacity of the asset during the current accounting period only and are recorded as expenses

          

  5. long-lived assetstangible and intangible resources owned by a business and used in its operations over several years