Listed below are several terms and phrases associated with operational assets. Pair each item from List A
Question:
List A ____________________________________________
___________1. Depreciation
___________2. Goodwill
___________3. Amortization
___________4. Natural resources
___________5. Intangible assets
___________6. Copyright
___________7. Trademark
List B_____________________________________________
a. Exclusive right to display a word, a symbol, or an emblem.
b. Exclusive right to benefit from a creative work.
c. Assets that represent contractual rights.
d. Oil and gas deposits, timber tracts, and mineral deposits.
e. Purchase price less fair value of net identifiable assets.
f. The allocation of cost for plant and equipment.
g. The allocation of cost for Intangible assets.
Goodwill
Goodwill is an important concept and terminology in accounting which means good reputation. The word goodwill is used at various places in accounting but it is recognized only at the time of a business combination. There are generally two types of... Intangible Assets
An intangible asset is a resource controlled by an entity without physical substance. Unlike other assets, an intangible asset has no physical existence and you cannot touch it.Types of Intangible Assets and ExamplesSome examples are patented...
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Related Book For
Financial Accounting
ISBN: 978-0078025549
3rd edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
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