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6 Cards in this Set
- Front
- Back
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3 Types Of Long Term Assets |
-Natural Resources -Plant Assets -Intangible Assets |
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Current Assets |
Those assets that are going to be cashed, turned into cash, used within a year. |
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Long Term Assets |
Things that are going to last longer than a year. |
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Problems With Long Term Assets |
· Measurement of Costs · Periodic reflection of asset cost consumed · Expenditures to maintain and/ or improve · Recognition of gain or loss on disposal |
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Plant Assets Examples... |
-Buildings -Equipment -Land |
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Intangible Assets Examples... |
-Patents -Trademarks -Copyrights |
