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Int. Acct. I Quiz

Select the Definition that corresponds to the displayed Term.
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1. prudent cost




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2. involuntary conversion




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3. accretion expense




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4. commercial substance




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5. lump-side purchases




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6. equipment




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7. repairs




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8. major repairs




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9. capital expenditures




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10. nonmonetary assets




Select the Term that corresponds to the displayed Definition.
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11. structural additions with limited lives that are made to land




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12. # months during the capitalization window the expenditure is outstanding/12




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13. to maintain plant assets in operating condition




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14. The amount of interest cost that a company could theoretically avoid if it had not made expenditures for the asset.




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15. the period of time during which a company must capitalize interest.




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16. interest cost incurred during construction of fixed assets is part of the cost of acquiring the assets and preparing them for their intended use




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17. include land, building structures (offices, factories, warehouses), and equipment (machinery, computers, vehicles, furniture, tools)




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18. increase or extension of existing assets. Capitalize and depreciate the cost of the addition because a new asset was created




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19. substitution of an improved asset for an existing one. Capitalize and depreciate using one of three allowable methods.




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20. some type of asset (such as cash, securities, land, or buildings), services, or use of facilities, but it also could be the forgiveness of a debt





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