Solved

Match the Items Below by Entering the Appropriate Code Letter

Question 303

Matching

Match the items below by entering the appropriate code letter in the space provided.

Premises:
A long-term agreement allowing the lessee to use the lessor’s asset where the arrangement is accounted for as a purchase.
Is recorded if the proceeds from the sale exceed the book value of the plant asset.
Can be identified only with a business as a whole.
Examples are franchises and licenses.
Wen book value of asset is greater than the proceeds received from its sale.
Must be expensed when incurred.
Computed by dividing net income by average assets.
Indicates how efficiently a company is able to generate sales with a given amount of
A symbol that identifies a particular enterprise or product.
Process of allocating the cost of an intangible asset to expense over its useful life.
Responses:
Trademark
Loss on disposal
Intangible asset
Gain on disposal
Goodwill
Asset turnover ratio
Return on assets ratio
Amortization
Research and development costs
Capital leaseI

Correct Answer:

A long-term agreement allowing the lessee to use the lessor’s asset where the arrangement is accounted for as a purchase.
Is recorded if the proceeds from the sale exceed the book value of the plant asset.
Can be identified only with a business as a whole.
Examples are franchises and licenses.
Wen book value of asset is greater than the proceeds received from its sale.
Must be expensed when incurred.
Computed by dividing net income by average assets.
Indicates how efficiently a company is able to generate sales with a given amount of
A symbol that identifies a particular enterprise or product.
Process of allocating the cost of an intangible asset to expense over its useful life.
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