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Plant Assets
Depreciation
Intangible Assets
Analyzing Plant Asset
Miscellaneous
100
Resources that have physical substance and are used in the operations of a business, and are not intended for sale to costumers.
What is Plant Assets.
100
______ allows a company to use a different depreciation method on the tax return than is used in preparing financial statements.
What is The IRS.
100
These are types of Intangible Assets.
What is Patent, Research and Development Costs, Copyright, Trademark and Trade Names, Franchises and Licenses, and Goodwill.
100
Asset Turnover Ratio =
What is Net Sales / Average Total Assets
100
Costs incurred to increase the operating efficiency, productive capacity, or expected useful life of the plant asset.
What is Additions and Improvements.
200
If a cost is not included in a plant asset account, then it must be expensed immediately. Such cost are referred to as
What is Revenue Expenditure.
200
The process by which an asset becomes out of date before it physically wears out.
What is Obsolescence.
200
Intangible assets are recorded on this form of financial statement.
What is Balance Sheet.
200
Marketing Executives use the basic finance concept underlying return on assets to determine this.
What is ROI (marketing return on investment).
200
The three factors in computing depreciation.
What is Cost, Useful Life, and Salvage Value
300
Cost that are not expensed immediately but are instead included in a plant asset account. Are referred to as:
What is Capital Expenditures.
300
Depreciation Expense is reported on this financial statement.
What is Income Statement.
300
Goodwill is not amortized because it is considered to have this.
What is an indefinite life.
300
Companies report a gain on disposal of plant assets in this sections of the income statement.
What is "Other Revenues and Gains" section.
300
Burger Kings "Have it your way" is an example of this.
What is Trademark.
400
The ___________ is equal to the fair value of the asset given up or the fair value of the asset received, whichever is more clearly determinable.
What is Cash Equivalent Price.
400
A depreciation method in which useful life is expressed in terms of the total units of production or use expected from the asset.
What is Units-of-activity method.
400
A word, phrase, jingle, or symbol that distinguishes or identifies a particular enterprise or product
What is a Trademark.
400
Solve this equation Average useful life of plant assets: ($9,819 + $11,064) ÷ 2 ____________________ = _________ years $845
What is 12.4
400
The abbreviation "MARCS" stands for this.
What is Modified Accelerated Cost Recovery System.
500
The four major classes of plant assets.
What is Land, Buildings, Land improvements, and Equipment.
500
This method produces a decreasing annual depreciation expense over the asset's useful life.
What is the declining-balance method.
500
Copy rights are granted by The ______________, giving the owner exclusive right to reproduce and sell artistic or published work.
What is Federal Government.
500
Solve this equation Asset Turnover Ratio: $13,255 _________________ = ? ($7,625 + $8,433) ÷ 2
What is 1.65
500
Methods of plant asset disposal are ____________, ___________, and/or ____________.
What is Sale, Retirement, Exchange.