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Unformatted text preview: _____________________________________________________ The main points of the chapter are : 1. Plant Assets a. Acquisition b.Depreciations (three methods) c. Improvements and Repairs d.Disposal 2. Intangible assets a. Definition: Intangible assets are long-lived assets with no physical substance. b. Recognition: recorded at cost when purchased c. Amortization (a limited life) and Impairment Tests (indefinite life) 1-3...
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