Match each of the following terms with the appropriate definitions.

Question

A. A right granted that gives its owner the exclusive privilege to publish and sell musical, literary, or artistic work during the life of the creator plus 70 years.
B. Assets that increase the benefits of land, have a limited useful life, and are subject to depreciation.
C. The total cost of a plant asset less its accumulated depreciation.
D. A condition where a plant asset no longer has a competitive advantage in producing goods or services because of innovations.
E. Alternations or improvements to leased property made by the lessee.
F. Major repairs that extend the useful life of a plant asset beyond its original estimate.
G. The inability of plant assets to meet the company's productive demands.
H. An estimate of an asset's value at the end its benefit period.
I. An exclusive right granted to its owner to manufacture and sell an item, or to use a process, for 20 years.
J. The process of allocating the cost of natural resources to the periods when they are consumed.

Answer 1

A. Copyright
B. Land improvements
C. Book value
D. Obsolescence
E. Leasehold improvements
F. Extraordinary repairs
G. Inadequacy
H. Salvage value
I. Patent
J. Depletion