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the process by which an asset becomes out of date before it physically wears out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