Virginia Murrah: Attempt 1 Major repairs that extend the useful life of a plant

Question

Virginia Murrah: Attempt 1 Major repairs that extend the useful life of a plant asset beyond its original estimate 2. An exclusive right granted to its owner to manufacture and sell an item, or to use a process, for 20 years A condition where a plant asset is no longer useful in 3. producing goods or services with a competitive 10 advantage Copyright Assets that increase the benefits of land, have a imited useful ife, and are subject to depreciation 14 15 19 20 The total cost of a plant asset less its accumulated Patent

Explanation / Answer

Matching Item Explanation Extraordinary repairs 1 Normal repairs are done to ensure usage of the plant but extraordinary reparis are those that enhance the life of the asset Inadequacy 6 This is the state where the assets do not meet the production demand Copyright 7 Copyright is a right that is given by the owner to the purchaser to use it Depletion 10 This is the method of depreciating the natural resources Patent 2 This is the right granted to the owner Land improvements 4 These are done to improve the benefits from land like construction of parking space, side walks etc., Lease hold improvements 9 These are the improvements done to a leased asset by lessee Obsolescence 3 This is the stage at which the asset is no longer useful at normal competancy levels Salvage value 8 This is the terminal value of the asset Book value 5 This is the carrying amount of the asset

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