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The process of allocating the cost of plant assets to expense over their useful lives is called-?
Wiki User
∙ 13y ago
Depreciation
Wiki User
∙ 13y ago
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What are the money and other valuables that belong to a corporation or a partnership called?
Assets-B
Assets which can be quickly converted into cash are called?
liquid
What is Payment made for the use of borrowed money called?
Payment made for the use of borrowed money is called interest. Interest expense is shown on an income statement as a non-operating expense.
Is cost allocation base a cost driver?
Yes, it is. When used for allocating costs, a cost driver is often called a cost-allocation base
What is it called when you have more expense than profit?
It's not called anything. If by profit you mean revenues. Then it is called a loss.
The process of allocating congressional seats among the fifty states is called?
Apportionment
Is salary paid asset or liability?
It's neither assets nor liability if a salary is already paid, it's called expense. But a salary before the payment would be called liability and after the payment it is going to be called an expense
Costs that are treated as assets until the product is sold are called?
Costs that are treated as assets until the product is sold are called product costs. The costs are added to the inventory, and the expense is recognized when the inventory is purchased.
What is the process of redistricting to benefit one political interest at the expense of another is called?
It is called gerrymandering.
Where in Chart of Accounts do you enter Prelinimary expenses ie liability asset etc?
Preliminary expense are those expense which incurred before start of operating activity so it is called other assets and shown in asset side of balance sheet.
What is the meaning of surplus on revaluation of fixed assets?
While in the process of revaluation of assets and liabilities, if the value of some assets increase more than the decrease in the value of some fixed assets then the difference of this increase and decrease if positive is called surplus on revaluation of fixed assets.
What is the movement of molecules across a membrane against their concentration at the expense of ATP energy called?
This process is called active transport.
The process of transferring the cost of metal ores and other minerals removed from the earth to an expense account is called what?
depletion
The process of transferring the cost of metal ores and other minerals removed from the earth to an expense account is called?
Amortization
How would you define depreciation?
For anything other than land, which is not allocated, the reclassification of tangible assets is called depreciation (for anything other than natural resources) or depletion (for natural resources) expense.
Is interest expense a selling or general and administrative expense?
Interest expense is neither selling or administrative, and it's too significant to be called a general expense. Interest expense is usually called a finance expense and is usually listed separately from SG&A, on the Income Statement
What are unexempt assets?
There is no such thing as unexempt assets. They are called non-exempt assets, and they are assets that must be given up.
