The estimated economic life of an asset is also known as ________.     A. residual value.     B. book value.     C. salvage life.     D. useful life.

Capitalizing a cost means to record the cost into a(n) a. contributed capital. Ob. asset. С. expenditure. d. income statement. A Moving to the next question prevents changes to this answer.

It is the initial cost of acquiring an asset, plus sales tax, transportation and normal costs of making asset serviceable. a. Adjusted standard cost O b. Cost basis O c. Standard cost O d. Adjusted cost basis

The common characteristic possessed by all assets is a. Great monetary value b. Tangible nature Oc. Future economic benefit Od. Long life

what is the ultimate purpose of long-term assets? How should the cost of these assets be allocated over the asset's useful life? Why is depreciation not synonymous with valuation?

How would accumulated depreciation be classified on the balance sheet? current asset fixed asset current liability O long term liability

What is the difference between the cost of a fixed asset and its accumulated depreciation called? Group of answer choices book value current value fixed value equity value

Define Long-lived assets

Explain the following terms: (a)Depreciation, (b)accumulated depreciation, (c)book value, (d)fixed asset, (e)intangible asset.