
Chapter 23 Accounting
Authored by EVA VECCHIO
Business
9th - 12th Grade
Used 1+ times

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6 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Long-lived assets that are used in the production or sale of other assets or services over several accounting periods.
Plant Assets
Current Assets
Intangible Assets
Fixed Assets
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Allocating a plant asset’s cost over its useful life.
Amortization
Appreciation
Depreciation
Liquidation
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The estimated value of a plant asset at its replacement time; also called salvage value
Acquisition Value
Market Value
Depreciation Value
Disposal Value
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A method that equally distributes the depreciation expense over an asset’s estimated useful life.
Accelerated Depreciation
Straight Line Depreciation
Double Declining Balance Depreciation
Sum of the Years Digit Depreciation
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The total amount of depreciation for a plant asset that has been recorded up to a specific point in time.
Accumulated Depreciation
Depreciation Expense
Depreciation Rate
Depreciation Allowance
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The original cost of a plant asset minus accumulated depreciation.
Market Value
Depreciation Value
Book Value
Salvage Value
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