Matching
Match each of the appropriate definitions with correct terms.
Premises:
A condition where a plant asset is no longer useful in producing goods or services with a competitive advantage.
An estimate of an asset's value at the end its benefit period.
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 70 years.
The total cost of a plant asset less its accumulated depreciation.
Assets that increase the benefits of land, have a limited useful life, and are subject to depreciation.
An exclusive right granted to its owner to manufacture and sell an item, or to use a process, for 20 years.
The process of allocating the cost of natural resources to the periods when they are consumed.
Alternations or improvements to leased property made by the lessee.
Major repairs that extend the useful life of a plant asset beyond its original estimate.
The insufficient capacity of plant assets to meet the company's productive demands.
Responses:
Land improvements
Leasehold improvements
Copyright
Extraordinary repairs
Book value
Patent
Obsolescence
Depletion
Inadequacy
Salvage value
Correct Answer:
Premises:
Responses:
A condition where a plant asset is no longer useful in producing goods or services with a competitive advantage.
An estimate of an asset's value at the end its benefit period.
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 70 years.
The total cost of a plant asset less its accumulated depreciation.
Assets that increase the benefits of land, have a limited useful life, and are subject to depreciation.
An exclusive right granted to its owner to manufacture and sell an item, or to use a process, for 20 years.
The process of allocating the cost of natural resources to the periods when they are consumed.
Alternations or improvements to leased property made by the lessee.
Major repairs that extend the useful life of a plant asset beyond its original estimate.
The insufficient capacity of plant assets to meet the company's productive demands.
Premises:
A condition where a plant asset is no longer useful in producing goods or services with a competitive advantage.
An estimate of an asset's value at the end its benefit period.
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 70 years.
The total cost of a plant asset less its accumulated depreciation.
Assets that increase the benefits of land, have a limited useful life, and are subject to depreciation.
An exclusive right granted to its owner to manufacture and sell an item, or to use a process, for 20 years.
The process of allocating the cost of natural resources to the periods when they are consumed.
Alternations or improvements to leased property made by the lessee.
Major repairs that extend the useful life of a plant asset beyond its original estimate.
The insufficient capacity of plant assets to meet the company's productive demands.
Responses:
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