Depreciation

The value of an asset determined by tax authorities for the purpose of calculating taxes.

• assessed value
• book value of a plant asset
• depletion
• gain on plant asset

The original cost of a plant asset minus accumulated depreciation.

• assessed value
• half-year convention
• current asset
• book value of a plant asset

Cash and other assets expected to be exchanged for cash or consumed within a year.

• loss on plant asset
• current asset
• gain on plant asset
• modified half-year convention

A type of accelerated depreciation that multiplies the book value of an asset by a constant depreciation rate to determine annual depreciation.

• declining-balance-depreciation
• assessed value
• Modified Accelerated Cost Recovery System (MACRS)
• straight-line-depreciation

The decrease in the value of a plant asset because of the removal of a natural resource.

• salvage value
• loss on plant asset
• depletion
• gain on plant asset

revenue that results when a plant asset is sold for more than book value.

• gain on plant asset
• loss on plant asset
• salvage value
• plant asset record

A method that recognizes one half of a year's depreciation in the year of acquisition.

• personal property
• straight-line-depreciation
• modified half-year convention
• half-year convention

the loss that results when a plant asset is sold for less than book value.

• salvage value
• loss on plant asset
• units-of-production method
• real property

The tax rate used to calculate property taxes.

• loss on plant asset
• plant asset record
• salvage value
• milage rate

A depreciation method required by the Internal Revenue Service to be used for income tax calculation purposes for most plant assets.

• units-of-production method
• Modified Accelerated Cost Recovery System (MACRS)
• personal property
• straight-line-depreciation