Choose the Letter of the Appropriate Definition to Match the Term.Not

Essay

Choose the letter of the appropriate definition to match the term.Not all definitions will be used.
Term
1._____ Amortization
2._____ Useful life
3._____ Licensing right
4._____ Least and latest rule
5._____ Component allocation
6._____ Fixed asset turnover ratio
7._____ Depreciable cost
8._____ Copyright
9._____ Depreciation schedule
10._____ Revenue expenditures
Definition
A.Allocating the cost of tangible assets over their limited useful life.
B.Costs that are recorded as revenues.
C.Asset cost minus residual value.
D.Net income divided by average total assets.
E.Allocating the cost of intangible assets over their limited useful life.
F.Asset cost minus accumulated depreciation.
G.Costs that are expensed in the period incurred.
H.Grants the exclusive right to sell or use a creative work.
I.A cumulative record of depreciation expense,accumulated depreciation and book value.
J.An estimate of how long a company will use a particular asset.
K.Net sales revenue divided by average net fixed assets.
L.The principle that companies wish to pay the lowest possible tax at the last possible time.
M.A contractual agreement that allows limited permission for use of a property.
N.An estimate of how long a tangible asset will last before it physically wears out.
O.The method whereby different parts of an asset may be depreciated over different useful lives under IFRS.