Acct. 2301 Exam 3 with Questions and Answers
trademark ANSWER an asset that represents distinctive identifications of a product or service
asset turnover ratio ANSWER net sales / average assets
land improvement cost examples ANSWER fencing, sprinklers, paving, signs, and lighting
cost o...
Acct. 2301 Exam 3 with Questions and Answers
trademark ANSWER an asset that represents distinctive identifications of a product or service
asset turnover ratio ANSWER net sales / average assets
land improvement cost examples ANSWER fencing, sprinklers, paving, signs, and lighting
cost of a plant asset ANSWER amounts paid to make the asset ready for its intended use
obsolete asset ANSWER when a newer asset can perform the job more efficiently than the old asset can
items to be amortized ANSWER patents, copyrights, trademarks
intangible assets ANSWER convey special rights from patents, copyrights, trademarks, and other creative works
IFRS uses fair market value because ANSWER it may be more relevant
Double-declining-balance ANSWER book value x (2/life)
copyright ANSWER type of intangible asset related to the exclusive right to reproduce ans sell a book or intellectual property
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