Study your flashcards anywhere!

Download the official Cram app for free >

  • Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off

How to study your flashcards.

Right/Left arrow keys: Navigate between flashcards.right arrow keyleft arrow key

Up/Down arrow keys: Flip the card between the front and back.down keyup key

H key: Show hint (3rd side).h key

A key: Read text to speech.a key


Play button


Play button




Click to flip

17 Cards in this Set

  • Front
  • Back
Accelerated Method
a method of depreciation that allocates relatively large amounts of the depreciable cost of an asset to earlier years and reduced amounts to later years
An enlargement to the physical layout of a plant asset.
The periodic allocation of the cost of an intangible asset to the periods it benefits.
Asset Impairment
Loss of revenue-generating potential of a long-lived asset before the end of its useful life; the difference between an asset's carrying value and its fair value, as measured by the present value of the expected cash flows.
An improvement that does not add to the physical layout of a plant asset.
Brand name
A registered name that can be used only by its owner to identify a product or service.
Capital expenditure
An expenditure for the purchase or expansion of a long-term asset, recorded in an asset account.
Carrying Value
The unexpired part of the cost of an asset, not its market value. Also called book value.
An exclusive right granted by the federal government to reproduce and sell literary, musical, and other artistic materials and computer programs for a period of the author's life plus 70 years.
Customer list
A list of customers or subscribers
Declining-balance method
An accelerated method of depreciation in which depreciation is computed by applying a fixed rate to the carrying value (the declinging balance) of a tangible long-lived asset.
The exhaustion of a natural resource through mining, cutting, pumping, or other extraction, and the way in which the cost is allocated.
Depreciable cost
The cost of an asset less its residual value.
The periodic allocation of the cost of a tangible long-lived asset (other than land and natural resources) over its estimated useful life.
Double-declining balance method
An accelerated method of depreciation in which a fixed rate equal to twice the straight-line percentage is applied to the carrying value (the declining balance)
Estimated useful life
The total number of service units expected from a long-term asset.
A payment or an obligation to make future payment for an asset or a service