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FINACCT Unit 4a

Quiz by Robert Couch

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60 questions
Show answers
  • Q1
    Amortization
    Selling price assigned to retired fixed assets or merchandise unsalable through usual channels.
    Amount that an asset shows on the balance sheet of a company.
    Expense allowance made for wear and tear on a tangible asset over its estimated useful life.
    Gradual and periodic reduction of an intangible asset.
    30s
  • Q2
    Book Value
    The estimated lifespan of a depreciable fixed asset, during which it can be expected to contribute to company operations.
    A reduction in net asset value for an intangible asset with an indefinite life.
    Amount that an asset shows on the balance sheet of a company.
    Outlay of money to acquire or improve capital assets such as buildings and machinery.
    30s
  • Q3
    Capital Expenditure
    Gradual and periodic reduction of an intangible asset.
    Outlay of money to acquire or improve capital assets such as buildings and machinery.
    Selling price assigned to retired fixed assets or merchandise unsalable through usual channels.
    Provides the inventor exclusive rights to an innovative process, design, or product for a designated period.
    30s
  • Q4
    Depreciation
    Gradual and periodic reduction of an intangible asset.
    The estimated lifespan of a depreciable fixed asset, during which it can be expected to contribute to company operations.
    Expense allowance made for wear and tear on a tangible asset over its estimated useful life.
    A reduction in net asset value for an intangible asset with an indefinite life.
    30s
  • Q5
    Goodwill
    Amount that an asset shows on the balance sheet of a company.
    Outlay of money to acquire or improve capital assets such as buildings and machinery.
    Premium paid in the acquisition of an entity over the fair value of its identifiable tangible (and intangible) assets less liabilities.
    Gradual and periodic reduction of an intangible asset.
    30s
  • Q6
    Impairment
    Amount that an asset shows on the balance sheet of a company.
    Selling price assigned to retired fixed assets or merchandise unsalable through usual channels.
    A reduction in net asset value for an intangible asset with an indefinite life.
    Provides the inventor exclusive rights to an innovative process, design, or product for a designated period.
    30s
  • Q7
    Patent
    Expense allowance made for wear and tear on a tangible asset over its estimated useful life.
    The estimated lifespan of a depreciable fixed asset, during which it can be expected to contribute to company operations.
    Provides the inventor exclusive rights to an innovative process, design, or product for a designated period.
    Gradual and periodic reduction of an intangible asset.
    30s
  • Q8
    Plant Asset
    A building or group of buildings where something is made or processed.
    A reduction in net asset value for an intangible asset with an indefinite life.
    Provides the inventor exclusive rights to an innovative process, design, or product for a designated period.
    Expense allowance made for wear and tear on a tangible asset over its estimated useful life.
    30s
  • Q9
    Salvage Value
    Provides the inventor exclusive rights to an innovative process, design, or product for a designated period.
    Premium paid in the acquisition of an entity over the fair value of its identifiable tangible (and intangible) assets less liabilities.
    A building or group of buildings where something is made or processed.
    Selling price assigned to retired fixed assets or merchandise unsalable through usual channels.
    30s
  • Q10
    Useful Life
    Expense allowance made for wear and tear on a tangible asset over its estimated useful life.
    A building or group of buildings where something is made or processed.
    A reduction in net asset value for an intangible asset with an indefinite life.
    The estimated lifespan of a depreciable fixed asset, during which it can be expected to contribute to company operations.
    30s
  • Q11
    Amortization
    Outlay of money to acquire or improve capital assets such as buildings and machinery.
    Gradual and periodic reduction of an intangible asset.
    Selling price assigned to retired fixed assets or merchandise unsalable through usual channels.
    The estimated lifespan of a depreciable fixed asset, during which it can be expected to contribute to company operations.
    30s
  • Q12
    Book Value
    A reduction in net asset value for an intangible asset with an indefinite life.
    Amount that an asset shows on the balance sheet of a company.
    Outlay of money to acquire or improve capital assets such as buildings and machinery.
    Expense allowance made for wear and tear on a tangible asset over its estimated useful life.
    30s
  • Q13
    Capital Expenditure
    Outlay of money to acquire or improve capital assets such as buildings and machinery.
    Premium paid in the acquisition of an entity over the fair value of its identifiable tangible (and intangible) assets less liabilities.
    A building or group of buildings where something is made or processed.
    Provides the inventor exclusive rights to an innovative process, design, or product for a designated period.
    30s
  • Q14
    Depreciation
    Amount that an asset shows on the balance sheet of a company.
    Expense allowance made for wear and tear on a tangible asset over its estimated useful life.
    Gradual and periodic reduction of an intangible asset.
    A reduction in net asset value for an intangible asset with an indefinite life.
    30s
  • Q15
    Goodwill
    Outlay of money to acquire or improve capital assets such as buildings and machinery.
    Premium paid in the acquisition of an entity over the fair value of its identifiable tangible (and intangible) assets less liabilities.
    Gradual and periodic reduction of an intangible asset.
    Amount that an asset shows on the balance sheet of a company.
    30s

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