Question

Listed below are several terms and phrases associated with property, plant, and equipment and intangible assets. Pair each item from List A with the item from List B (by letter) that is most appropriately associated with it. 

Answer 1

All the items on the right side are denoted by letters A-K from top to bottom

A) Average accumulated expenditure

7.	Approximation of average amount of debt if all construction funds were borrowed.

 

B) Intangible assets

3.	Assets that represent rights.

 

C) Capitalize

9.	Term meaning to record the cost as an asset.

 

D) Natural resources

11.	Assets such as timber tracks and mineral deposits.

 

E) Land improvements

4.	Costs of establishing parking lots, driveways, and private roads.

 

F) Non monetary exchange

10.	Basic principle is to value assets acquired using fair value of assets given other than cash.

 

G) Goodwill

5.	Purchase price less fair value of net identifiable assets.

 

H) Property plant and equipment

6.	Assets such as land, buildings, and machinery.

 

I) Revenue

8.	Account credited when assets are donated to a corporation.

 

J) Trademark

1.	Exclusive right to display a word, a symbol, or an emblem.

 

K) Copyright

2.	Exclusive right to benefit from a creative work.

All the items on the right side are denoted by letters A-K from top to bottom

A) Average accumulated expenditure

7.	Approximation of average amount of debt if all construction funds were borrowed.