37837011
| Questão | Responda |
| Accelerated Cost Recovery System (ACRS) | Tax law enacted in 1981 for assets put in service from 1981 through 1986. |
| Accelerated Depreciation | Computes more depreciation expense in the early years of the asset's life than in the later years. |
| Accumulated Depreciation | Amount of depreciation that has accumulated on plant and equipment assets. |
| Asset Cost | Amount company paid for the asset. |
| Book Value | Cost less accumulated depreciation. |
| Declining-Balance Method | Accelerated method of depreciation. The depreciation each year is calculated by book value beginning each year times the rate. |
| Depreciation | Process of allocating the cost of an asset (less residual value) over the asset's estimated life. |
| Depreciation Expense | Process involving asset cost, estimated useful life, and residual value (salvage or trade-in value). |
| Depreciation Schedule | Table showing amount of depreciation expense, accumulated depreciation, and book value for each period of time for a plant asset. |
| Estimated Useful Life | How long an asset will be in use. |
| General Depreciation System (GDS) | Most common (MACRS) system to calculate depreciation. |
| Modified Accelerated Cost Recovery System (MACRS) | Part of Tax Reform Act of 1986 that revised depreciation schedules of ACRS. Tax Bill of 1989, 2010 updates MACRS. |
| Residual Value | Estimated value of a plant asset after depreciation is taken (or end of useful life). |
| Salvage Value | Cost less accumulated depreciation. |
| Straight-Line Method | Method of depreciation that spreads an equal amount of depreciation each year over the life of the assets. |
| Straight-Line Rate | One divided by number of years of expected life. |
| Trade-In Value | Estimated value of a plant asset after depreciation is taken (or end of useful life). |
| Units-Of-Production Method | Depreciation method that estimates amount of depreciation based on usage. |
Quer criar seus próprios Flashcards gratuitos com GoConqr? Saiba mais.