115. Match each of the following terms with the appropriate definitions. 1. The process of allocating the cost of natural resources to the periods when they are consumed Obsolescence 2. A right granted that gives its owner the exclusive privilege to publish and sell musical, literary or artistic work during the life of the creator plus 50 years Extraordinary repairs 3. Assets that increase the benefits of land, have a limited useful life and are subject to depreciation Depletion 4. A condition which, because of new inventions and improvements, a plant asset is no longer useful in producing goods or services with a competitive advantage Patent 5. Major repairs that extend the useful life of a plant asset beyond its original estimate Land improvements 6. An exclusive right granted to its owner to manufacture and sell an item or to use a process, for 17 years Copyright 7. The process of allocating the cost of an intangible asset to expense over its estimated useful life Amortization 8. An estimate of an asset's value at the end its benefit period Salvage value 9. The insufficient capacity of plant assets to meet the company's productive demands Book value 10. The total cost of a plant asset less its accumulated depreciation Inadequacy

115. Match each of the following terms with the appropriate definitions. 1. The process of allocating the cost of natural resources to the periods when they are consumed Obsolescence ...

115. Match each of the following terms with the appropriate definitions.

1. The process of allocating the cost of natural resources to the periods when they are consumed	Obsolescence
2. A right granted that gives its owner the exclusive privilege to publish and sell musical, literary or artistic work during the life of the creator plus 50 years	Extraordinary repairs
3. Assets that increase the benefits of land, have a limited useful life and are subject to depreciation	Depletion
4. A condition which, because of new inventions and improvements, a plant asset is no longer useful in producing goods or services with a competitive advantage	Patent
5. Major repairs that extend the useful life of a plant asset beyond its original estimate	Land improvements
6. An exclusive right granted to its owner to manufacture and sell an item or to use a process, for 17 years	Copyright
7. The process of allocating the cost of an intangible asset to expense over its estimated useful life	Amortization
8. An estimate of an asset's value at the end its benefit period	Salvage value
9. The insufficient capacity of plant assets to meet the company's productive demands	Book value
10. The total cost of a plant asset less its accumulated depreciation	Inadequacy

May 15, 2022