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ACC 231, Chapter 8

Across
Includes a symbol, name, or phrase identified with a company, product, or service
Assets that are physically consumed when used such as oil and gas
What a company will realize if it sells a plant asset below its book value
Examples include parking lots and landscaping
Expenditures that make a plant asset more efficient or productive
Expenditures that significantly increase the useful life of a plant asset such as a major overhaul of a machine are _____expenditures
An estimate of the value of a plant asset at the end of its useful life
The total asset turnover is calculated by dividing average total assets into _____
The cost of a plant asset minus its accumulated depreciation
An owner of property who has granted a lease to a person to use property under the terms of the lease
Tangible assets used in a company's operations that have a useful life of more than one year
The kind of normal balance of accumulated depreciation
Down
A permanent decline in the fair value of an asset relative to its book value
A right granted by the federal government that gives its owner the exclusive right to sell and publish a literary work for the life of its creator plus 70 years
The process of allocating the cost of a natural resource to the period in which it is consumed
A person who rents and uses property under the terms of a lease
Accumulated Depreciation is this type of account
Nonphysical assets used in the operations of a business such as patents, copyrights, and goodwill
A contract for the rental of property
The cost of a plant asset minus its salvage value
The excess of the price paid for a company over the fair market value of its individual assets net of liabilities assumed
The depreciation method that charges the same amount of depreciation to expense for each accounting period over the life of the asset
Expenditures that do not significantly increase the useful life of a plant asset such as cleaning and repairs are _____ expenditures
An exclusive right granted by to its owner to manufacture and sell an item or process it covers for 20 years