Matching Question 304 Match the following statements to the appropriate terms. P

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Matching Question 304 Match the following statements to the appropriate terms. Process of allocating the cost of an intangible asset to expense over its useful ife. Is only recorded when an exchange has commercial substance. Examples are franchises and licenses. The allocation of the cost of a natural resource to expense over its useful life. Can be identified only with a business as a whole. A symbol that identifies a particular enterprise or product. When book value of asset is greater than the proceeds received from its sale. Must be expensed when incurred. Indicates how efficiently a company is able to generate sales with its assets. An estimate of the expected productive life of an asset. Click if you would like to Show Work for this question: Open Show Work

Explanation / Answer

1. Ammortization

2. Gain on disposal

3. Intangible asset

4. Depletion

5. Good will

6. Trademark

7. Loss on disposal

8. Research and development

9. Asset turnover

10. Useful life

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