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9 Cards in this Set

  • Front
  • Back
Plant Assets
resources that have physical substance, fixed assets
Land Improvements
are structural additions made to land, not included in land account
Obsolescence
the process by which an asset becomes out of date before it physically wears out
Depreciable Cost
Cost-Salvage Value
Annual depreciation rate
100/useful life
Book Value
cost- accumulated depreciation
Declining balance depreciation
uses the double-declining-balance method which is twice the rate
Units of activity method
useful life is expressed in terms of the total units of production or the use expected from the asset
Impairment
a permanent decline in the market value of an asset