Solved

Match Each of the Following Terms with the Appropriate Definitions

Question 209

Matching

Match each of the following terms with the appropriate definitions.

Premises:
Patent
Salvage value
Book value
Inadequacy
Copyright
Depletion
Extraordinary repairs
Obsolescence
Amortization
Land improvements
Responses:
The insufficient capacity of plant assets to meet the company's productive demands
A right granted that gives its owner the exclusive privilege to publish and sell musical, literary or artistic work during the life of the creator plus 50 years
Major repairs that extend the useful life of a plant asset beyond its original estimate
The total cost of a plant asset less its accumulated depreciation
The process of allocating the cost of natural resources to the periods when they are consumed
A condition which, because of new inventions and improvements, a plant asset is no longer useful in producing goods or services with a competitive advantage
An exclusive right granted to its owner to manufacture and sell an item or to use a process, for 20 years
Assets that increase the benefits of land, have a limited useful life and are subject to depreciation
An estimate of an asset's value at the end its benefit period
The process of allocating the cost of an intangible asset to expense over its estimated useful life

Correct Answer:

Patent
Salvage value
Book value
Inadequacy
Copyright
Depletion
Extraordinary repairs
Obsolescence
Amortization
Land improvements
Related Questions

Q199: _ are additional costs of plant assets

Q200: The process of allocating the cost of

Q201: _ is the process of systematically allocating

Q201: _ are revenue expenditures to keep an

Q203: _ are capital expenditures that make a

Q204: The three usual means for disposal of

Q205: _ are expenditures that extend an asset's

Q210: Match each of the following terms with

Q211: Match each definition with its term

Q212: Match each definition with its term

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents