160. Match each of the following terms with the appropriate definitions. a. Extraordinary repairs b. Obsolescence c. Leasehold improvements d. Depletion e. Salvage value f. Book value ...

____ 1.

An estimate of an asset’s value at the end its benefit period.

____ 2.

Major repairs that extend the useful life of a plant asset beyond its original estimate.

____ 3.

Alternations or improvements to leased property made by the lessee.

____ 4.

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 70 years.

____ 5.

A condition where a plant asset is no longer useful in producing goods or services with a competitive advantage.

____ 6.

The total cost of a plant asset less its accumulated depreciation.

____ 7.

The process of allocating the cost of natural resources to the periods when they are consumed.

____ 8.

An exclusive right granted to its owner to manufacture and sell an item, or to use a process, for 20 years.

____ 9.

The insufficient capacity of plant assets to meet the company’s productive demands.

____ 10.

Assets that increase the benefits of land, have a limited useful life, and are subject to depreciation.