ch.9 act jeopardy

ch.9 act jeopardy - Tangible Assets Other Terms Review...

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Unformatted text preview: Tangible Assets Other Terms Review Potpourri $ 100 $ 100 $ 100 $ 200 $ 200 $ 200 $ 300 $ 300 $ 300 $ 400 $ 400 $ 400 $ 500 Depreciation $ 400 $ 100 $ 200 $ 300 $ 500 Intangible Assets $ 100 $ 200 $ 300 $ 400 $ 500 $ 500 $ 500 Tangible Assets - $100 Physical assets owned by the company that will provide economic benefits beyond the upcoming fiscal year. What are Long-term Tangible Assets? Back to Board Tangible Assets - $200 Because long-lived tangible assets have economic benefits beyond the current period the cost of acquiring them is initially ______. What is Capitalized? Back to Board Tangible Assets - $300 The principle that requires all reasonable and necessary costs of acquiring and preparing an asset for use should be recorded as a cost of the asset. What is the cost principle? Back to Board Tangible Assets - $400 Expenditures for routine operating upkeep of long-lived assets are recorded in this manner. What is as Expenses? Back to Board Tangible Assets - $500 Extraordinary repairs are accounted for in this manner. What is capitalized (i.e., recorded as increases in the asset accounts)?...
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ch.9 act jeopardy - Tangible Assets Other Terms Review...

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