Match the Term and the Definition

Short Answer

Match the term and the definition.Not all definitions will be used.
_____ Amortization
_____ Capitalized interest
_____ Licensing right
_____ Least and latest rule
_____ Voluntary disposal
_____ Fixed asset turnover ratio
_____ Copyright
_____ Amortization schedule
_____ Involuntary disposal
A.Allocating the cost of tangible assets over their limited useful life.
B.Generally accepted accounting principle that a company must report assets at the lower of their most recent market value or acquisition cost.
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.A method of calculating how a company will use different amortization methods for an asset.
G.When a company is no longer able to use an asset because of events beyond its control.
H.Grants the exclusive right to sell or use a creative work.
I.A cumulative record of amortization expense,accumulated amortization,and book value.
J.The cost of financing the self-construction of a tangible 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.Also known as book value.
N.A contractual agreement that allows limited use of a property.
O.How interest payments are recorded as liabilities on the balance sheet.
P.When a company decides it no longer wants to hold an asset but sells,trades,or donates it instead.