Chapter 10 Quiz

Chapter 10 Quiz - Chapter 10 Quiz _ Accounting 201 Terms:...

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Chapter 10 Quiz Name ________________________ Accounting 201 Terms: A. Average accumulated expenditures B. Exchange of operational assets C. Expected cash flow approach D. Franchise E. Interest cost F. Land G. Noninterest-bearing note I. Revenue-donation of asset J. Trademark 1. _____ Account credited when assets are donated to a corporation. 2. _____ Approximation of average outstanding debt if all construction funds were borrowed. 3. _____ Both the total amount and the amount capitalized should be disclosed. 4. _____ Asset received is measured at fair value. 5. _____ Right granted to use a trademark or tradename within a geographic area. 6. _____ Exclusive right to display a word, symbol, or emblem. 7. _____ Generates inventoriable costs. 8. _____ Incorporates specific probabilities of cash flows. 9. _____ Its cost includes filling, draining, and removal of old structures. 10. _____ Valued at the fair value of the note or fair value of the asset received in exchange. A. Amortization B. Asset retirement obligations C. Fixed asset turnover ratio D. Implicit rate of interest E. Land improvements F. Natural resources G. Nonmonetary exchange H. Research and development costs I. Similar assets exchange J. Technological feasibility 11. _____ Point in time to begin capitalization of software development costs. 12. _____ Expensed in the period incurred.
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13. _____ The allocation of cost for intangible assets. 14. _____ The basic principle is to value assets acquired using fair value of consideration given. 15. _____ Wasting assets. 16. _____ A measurement of efficiency in using depreciable assets. 17. _____ Exclusive right of protection given to the creator of a published work. 18. _____ Measured at fair value and recognized as a liability. 19. _____ The basic principle is to value assets acquired using fair value of consideration given. 20. _____ Includes parking lots, fences, and driveways, lighting and sprinkler systems. A. Copyright B. Depletion C. Depreciation D. Donated assets E. Effective interest F. Goodwill G. Intangible assets H. Lump-sum purchase I. Patents J. Software development costs 21. _____ Operational assets that generally represent various types of rights.
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Chapter 10 Quiz - Chapter 10 Quiz _ Accounting 201 Terms:...

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