introduction chapters
chapter 11
Advanced PP&E
Issues/Natural
Resources/Intangibles
goals discussion
goals achievement
fill in the blanks
multiple
choice
problems
check list and key terms
1. , also known as improvements or extraordinary repairs, generally improve or increase future service potential of an asset.
2. If a cash sale of an item of depreciable property occurs, and the journal entry to record the sale is balanced by the recording of a debit, then a should be recognized.
3. Briefly stated, gains and losses are to be recognized on exchanges that have .
4. For tax purposes, the exchange of similar assets will normally result in no or .
5. Additional monetary consideration in an exchange transaction is known as .
6. is the allocation of natural resource cost to the resources extracted during an accounting period.
7. Patents, copyrights, and franchises are examples of .
8. occurs when the value of a company as an operating entity exceeds the value of its individual tangible assets and liabilities.
9. The process of charging the cost of an intangible to expense is known as .