Matching
Match the term and the definition.Not all definitions will be used.
Premises:
Least and latest rule
Copyright
Voluntary disposal
Depreciation schedule
Depreciation
Licensing right
Capitalized interest
Fixed asset turnover ratio
Involuntary disposal
Responses:
Generally accepted accounting principle that a company must report assets at the lower of their most recent market value or acquisition cost.
How interest payments are recorded as liabilities on the balance sheet.
When a company decides it no longer wants to hold an asset but sells
Asset cost minus residual value.
Net sales revenue divided by average net fixed assets.
Net income divided by average total assets.
The cost of financing the self-construction of a tangible asset.
Grants the exclusive right to sell or use a creative work.
Allocating the cost of intangible assets over their limited useful life.
Allocating the cost of tangible assets over their limited useful life.
A cumulative record of depreciation expense
Also known as book value.
The principle that companies wish to pay the lowest possible tax at the last possible time.
When a company is no longer able to use an asset because of events beyond its control.
A method of calculating how a company will use different depreciation methods for an asset.
A contractual agreement that allows limited use of a property.
Correct Answer:
Premises:
Responses:
Generally accepted accounting principle that a company must report assets at the lower of their most recent market value or acquisition cost.
How interest payments are recorded as liabilities on the balance sheet.
When a company decides it no longer wants to hold an asset but sells
Asset cost minus residual value.
Net sales revenue divided by average net fixed assets.
Net income divided by average total assets.
The cost of financing the self-construction of a tangible asset.
Grants the exclusive right to sell or use a creative work.
Allocating the cost of intangible assets over their limited useful life.
Allocating the cost of tangible assets over their limited useful life.
A cumulative record of depreciation expense
Also known as book value.
The principle that companies wish to pay the lowest possible tax at the last possible time.
When a company is no longer able to use an asset because of events beyond its control.
A method of calculating how a company will use different depreciation methods for an asset.
A contractual agreement that allows limited use of a property.
Premises:
Generally accepted accounting principle that a company must report assets at the lower of their most recent market value or acquisition cost.
How interest payments are recorded as liabilities on the balance sheet.
When a company decides it no longer wants to hold an asset but sells
Asset cost minus residual value.
Net sales revenue divided by average net fixed assets.
Net income divided by average total assets.
The cost of financing the self-construction of a tangible asset.
Grants the exclusive right to sell or use a creative work.
Allocating the cost of intangible assets over their limited useful life.
Allocating the cost of tangible assets over their limited useful life.
A cumulative record of depreciation expense
Also known as book value.
The principle that companies wish to pay the lowest possible tax at the last possible time.
When a company is no longer able to use an asset because of events beyond its control.
A method of calculating how a company will use different depreciation methods for an asset.
A contractual agreement that allows limited use of a property.
Responses:
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