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Matching Questions
139. Match each of the following terms with the appropriate definitions.
1. Change in accounting estimate |
The amount by which the company's value exceeds the value of its individual assets and liabilities. |
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2. Depletion |
An expenditure reported on the current income statement as an expense because it does not provide a material benefit in future periods. |
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3. Total asset turnover |
An expenditure to make a plant asset more efficient or productive. |
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4. Intangible assets |
A method that yields larger depreciation expense during the early years of an asset's life and smaller expense in the later years. |
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5. Ordinary repairs |
Expenditures made to keep a plant asset in normal, good operating condition. |
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6. Goodwill |
The process of allocating the cost of natural resources to periods when they are consumed. |
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7. Accelerated depreciation |
A measure of a company's ability to use its assets to generate sales. |
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8. Units-of production method |
A change in a financial statement amount that results from new information, subsequent developments, better insight, or improved judgment. |
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9. Revenue expenditure |
A depreciation method that charges a varying amount to expense for each period of an asset's useful life depending on its usage. |
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10. Betterment |
Certain nonphysical assets used in operations that confer on their owners long-term rights, privileges, or competitive advantages. |
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