NAME

Question types


Start with


Question limit

of 30 available terms

Advertisement
Print test

5 Written questions

5 Matching questions

  1. additions and improvements
  2. estimated useful life
  3. ordinary repairs and maintenance
  4. acquisition cost
  5. depletion
  1. a net cash equivalent amount paid or to be paid for the asset
  2. b expenditures for normal operating upkeep of long-lived assets
  3. c systematic and rational allocation of the cost of a natural resource over the period of its exploitation
  4. d expected service life of an asset to the present owner
  5. e infrequent expenditures that increase an assets economic usefulness in the future

5 Multiple choice questions

  1. this method allocates the cost of an asset over its useful life based on a multiple of the straight-line rate
  2. have a physical substance
  3. systematic and rational allocation of the acquisition cost of an intangible asset over its useful life
  4. acquisition cost of an asset less accumulated depreciation
  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. straight-line depreciationmethod that allocates the cost of an asset in equal periodic amounts over its useful life

          

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

          

  3. long-lived assetshave a physical substance 2

          

  4. capital expendituresmaintain the productive capacity of the asset during the current accounting period only and are recorded as expenses

          

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