For each question or statement, choose the term from the pulldown menu that most closely is a match.

A process of systematically allocating the cost of a capital asset to expense over its estimated useful life.

Select from the list... Salvage value Book value Cost Obsolescence Goodwill Leasehold Amortization Intangible assets Change in an accounting estimate Captial Cost Allowance (CCA) Useful life Lease Trademark or trade name Lessor Depletion Repairs  

The original cost of a capital asset less its accumulated amortization.

Select from the list... Salvage value Book value Cost Obsolescence Goodwill Leasehold Amortization Intangible assets Change in an accounting estimate Captial Cost Allowance (CCA) Useful life Lease Trademark or trade name Lessor Depletion Repairs  

The system of amortization required by federal income tax law.

Select from the list... Salvage value Book value Cost Obsolescence Goodwill Leasehold Amortization Intangible assets Change in an accounting estimate Captial Cost Allowance (CCA) Useful life Lease Trademark or trade name Lessor Depletion Repairs  

A change in a computed amount used in the financial statements that results from new information or subsequent developments and from better insight or improved judgment.

Select from the list... Salvage value Book value Cost Obsolescence Goodwill Leasehold Amortization Intangible assets Change in an accounting estimate Captial Cost Allowance (CCA) Useful life Lease Trademark or trade name Lessor Depletion Repairs  

Includes all normal and reasonable expenditures necessary to get a capital asset in place and ready for its intended use.

Select from the list... Salvage value Book value Cost Obsolescence Goodwill Leasehold Amortization Intangible assets Change in an accounting estimate Captial Cost Allowance (CCA) Useful life Lease Trademark or trade name Lessor Depletion Repairs  

The process of allocating the cost of natural resources to the period in which they are consumed; another term for amortization.

Select from the list... Salvage value Book value Cost Obsolescence Goodwill Leasehold Amortization Intangible assets Change in an accounting estimate Captial Cost Allowance (CCA) Useful life Lease Trademark or trade name Lessor Depletion Repairs  

The amount by which the value of a company exceeds the fair market value of the company's net assets if purchased separately.

Select from the list... Salvage value Book value Cost Obsolescence Goodwill Leasehold Amortization Intangible assets Change in an accounting estimate Captial Cost Allowance (CCA) Useful life Lease Trademark or trade name Lessor Depletion Repairs  

Rights, privileges and competitive advantages to the owner of capital assets used in operations that have no physical substance; examples include patents, copyrights, leaseholds, leasehold improvements, goodwill, and trademarks.

Select from the list... Salvage value Book value Cost Obsolescence Goodwill Leasehold Amortization Intangible assets Change in an accounting estimate Captial Cost Allowance (CCA) Useful life Lease Trademark or trade name Lessor Depletion Repairs  

A contract allowing property rental.

Select from the list... Salvage value Book value Cost Obsolescence Goodwill Leasehold Amortization Intangible assets Change in an accounting estimate Captial Cost Allowance (CCA) Useful life Lease Trademark or trade name Lessor Depletion Repairs  

A name for the rights granted to the lessee by the lessor by a lease.

Select from the list... Salvage value Book value Cost Obsolescence Goodwill Leasehold Amortization Intangible assets Change in an accounting estimate Captial Cost Allowance (CCA) Useful life Lease Trademark or trade name Lessor Depletion Repairs  

The party to a lease that grants the right to possess and use property to another.

Select from the list... Salvage value Book value Cost Obsolescence Goodwill Leasehold Amortization Intangible assets Change in an accounting estimate Captial Cost Allowance (CCA) Useful life Lease Trademark or trade name Lessor Depletion Repairs  

A condition in which, because of new inventions and improvements, a capital asset can no longer be used to produce goods or services with a competitive advantage.

Select from the list... Salvage value Book value Cost Obsolescence Goodwill Leasehold Amortization Intangible assets Change in an accounting estimate Captial Cost Allowance (CCA) Useful life Lease Trademark or trade name Lessor Depletion Repairs  

Expenditures made to keep a capital asset in normal, good operating condition; treated as a revenue expenditure.

Select from the list... Salvage value Book value Cost Obsolescence Goodwill Leasehold Amortization Intangible assets Change in an accounting estimate Captial Cost Allowance (CCA) Useful life Lease Trademark or trade name Lessor Depletion Repairs  

Management's estimate of the amount that will be recovered at the end of a capital asset's useful life through a sale or as a trade-in allowance on the purchase of a new asset; also called residual or scrap value.

Select from the list... Salvage value Book value Cost Obsolescence Goodwill Leasehold Amortization Intangible assets Change in an accounting estimate Captial Cost Allowance (CCA) Useful life Lease Trademark or trade name Lessor Depletion Repairs  

Symbol, name, phrase, or jingle identified with a company or service.

Select from the list... Salvage value Book value Cost Obsolescence Goodwill Leasehold Amortization Intangible assets Change in an accounting estimate Captial Cost Allowance (CCA) Useful life Lease Trademark or trade name Lessor Depletion Repairs  

The length of time in which a capital asset will be productively used in the operations of the business; also called service life.

Select from the list... Salvage value Book value Cost Obsolescence Goodwill Leasehold Amortization Intangible assets Change in an accounting estimate Captial Cost Allowance (CCA) Useful life Lease Trademark or trade name Lessor Depletion Repairs