Which of the following factors is an example of a functional cause of depreciation?

Assets that can provide future benefits without having physical form are called ___________.

Small adjustments to and replacement of plant assets that have little or no effect on useful life are called _______________.

In financial statements, what is the proper handling of the Allowance for Uncollectible Accounts?

In which of the following depreciation methods is the estimate of useful life NOT required?

The legal right to future benefits of an invention is referred to as a/an _______________.

Which of the following is a type of intangible asset that appears on the balance sheet only when one company is acquired by another?

When managers choose estimates that lead to higher current income, analysts refer to those earnings as ________________.

Late in Year 1, XYZ Company signs a contract to construct a bridge for the Florida Dept. of Transportation. The contract price is $42,000,000. The costs during the 3-year construction period are as follows: Year 2: $10,000,000 Year 3: $15,000,000 Year 4: $5,000,000 If XYZ Company recognizes income under the percentage-of-completion method, how much income would they recognize on the bridge contract in Year 2?

The proceeds gained upon disposition of an asset at the end of its useful life are referred to as the asset's _______________.

Which of the following costs would NOT be included in the cost of machinery?