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5 Written questions

5 Matching questions

  1. revenue expenditures
  2. straight-line depreciation
  3. trademark
  4. cost in excess of net assets acquired
  5. net book value
  1. a acquisition cost of an asset less accumulated depreciation
  2. b excess of the purchase price of a business over the fair value of the business's assets and liabilities 2
  3. c method that allocates the cost of an asset in equal periodic amounts over its useful life
  4. d maintain the productive capacity of the asset during the current accounting period only and are recorded as expenses
  5. e exclusive legal right to use a special name, image or slogan

5 Multiple choice questions

  1. excess of the purchase price of a business over the fair value of the business's assets and liabilities
  2. infrequent expenditures that increase an assets economic usefulness in the future
  3. costs for computer and web development
  4. net cash equivalent amount paid or to be paid for the asset
  5. expected service life of an asset to the present owner

5 True/False questions

  1. depletionsystematic and rational allocation of the cost of a natural resource over the period of its exploitation

          

  2. franchiseexclusive legal right to use a special name, image or slogan

          

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

          

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

          

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

          

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