Term
| Unlike other long-lived assets, ____ assets lack physical substance and the extent and timing of their future benefits typically are highly uncertain. |
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Definition
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Term
| The initial cost of an asset includes the purchase price and all expenditures necessary to bring asset to its desired ____ and ____ for use. |
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Definition
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Term
| Costs are capitalized, rather than expensed, if theu are expected to produce benefits ____. |
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Definition
| beyond the current period |
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Term
| The costs of land improvements are capatalized and ____. |
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Definition
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Term
| The cost of a natural resource includes the acquisition cost for the use of the land, the ____ and ____costs incurred before production begins, and restoration costs. |
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Definition
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Term
| Intangible assets usually represent exclusive ____ that provide benefits to the owner. |
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Definition
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Term
| A ____ is an exclusive right of protection given to a creator of a published work. |
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Definition
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Term
| A ____ is an exclusive right to display a word, a slogan, a symbol, or an emblem. |
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Definition
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Term
| Goodwill is the excess of the consideration exchanged over the ___ of the net assets acquired. |
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Definition
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Term
| In lump-sum acquisitions involving different assets, the total purchase price is allocated in proportion to the relative ____ of the assets acquired. |
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Definition
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Term
| Assets acquired in exchange for a noninterest-bearing note are valued either by (1) determing the fair value of the note payable by computing its ____, or (2) by determining the ____ of the assets acquired. |
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Definition
| present value, fair value |
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Term
| Assets acquired by issuing equity securities are valued at the fair value of the ____ or the fair value of the ____, whichever is more clearly evident. |
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Definition
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Term
| On receipt of a donated asset, the company usually records ____ at an amount equal to the value of the donated asset. |
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Definition
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Term
| If we cannot determine the fair value of either asset in a nonmonetary exchange, the asset received is valued at the ____ of the asset given. |
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Definition
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Term
| In a nonmonetary exchange, a gain is indicated if the fair value of the asset given is higher that its ____. |
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Definition
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Term
| In exchanges of nonmonetary assets, the general rule is that the asset acquired is valued at ____ regardless of whether a gain or loss is indicated. |
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Definition
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Term
| In exchanges of nonmonetary assets that commercial substance, the acquired asset is value at the ____ of the asset given up, plus (minus) cash given (received). |
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Definition
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Term
| The ____ ratio measures a company's effectiveness in managing property, plant and equipment. |
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Definition
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Term
| ____ approximates the average debt necessary for construction. |
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Definition
| average accumulated expenditures |
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Term
| The amount of interest capitalized is determined by multiplying an ____ by the ____. |
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Definition
| interest rate, average accumulated expenditures |
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Term
| Interest capitalized is limited to ____. |
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Definition
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Term
| Most research and development costs are expensed ____. |
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Definition
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Term
| In general, R&D costs pertain to activities that occur prior to the start of ____. |
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Definition
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Term
| GAAP requires the capitalization of software development costs incurred after ____ is established. |
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Definition
| technological feasibility |
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Term
| The _____ method requires that exploration costs that are known not to have resulted in the discovery of oil or gas be included as expenses in the period incurred. |
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Definition
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