I-10.01 Problem

I-10.01 Problem - 9 A tax-based allocation of cost that is...

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I-10.01 Examine the following list of items, and match each to the best corresponding description from the choices list. Each choice should be used only once. 1 Cost minus salvage value 2 Cost minus accumulated depreciation 3 Depreciation is a process of this, rather than valuation 4 Costs that are added to an asset account 5 Costs of items added to a land-related account, like paving and landscaping 6 A bundled purchase of assets 7 Lessee does not report the asset 8 Like straight-line, but the denominator is not time
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Unformatted text preview: 9 A tax-based allocation of cost that is not GAAP 10 Justification for expensing small items 11 Included with land cost 12 Expensed immediately 13 Results in less depreciation each year than the year before CHOICES: Materiality Book value MACRS Land improvements Capital expenditures Accelerated depreciation Lump sum purchase Depreciable base Survey and title fees Abnormal damage during installation Operating lease Allocation Units-of-output method...
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This note was uploaded on 02/29/2012 for the course ACCOUNTING 101 taught by Professor Hudack during the Spring '11 term at FIU.

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