Quiz – Amortization
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
Amortization of capitalized software is:
Amortization of capitalized software is:
Changing the estimated useful life or residual salvage value of machinery in the current year is:
When a firm reports a gain on the sale of a depreciable asset…
Replacement of a component increased the productive capacity from 12 units per hour to 18 units per hour. The expenditure should thus be debited to:
Intangible assets which are considered to have an indefinite useful life:
Which refers to process of allocating cost of intangible assets used over future periods of use?
The costs to defend intangible right such as a patent should be capitalized, regardless of whether the defense is successful or not.
There are 3 factors in the cost allocation of a depreciable asset. These are service life, allocation base, and allocation method. True or false?
A company must consistently use the same method of depreciation for the upcoming fixed asset acquisitions if it has already selected a method for the existing ones. True or false?
What is the term used to describe the process of allocating the cost of natural resources over their useful life