Listed Below Are 10 Terms Followed by a List of Phrases

question 9

Multiple Choice

Listed below are 10 terms followed by a list of phrases that describe or characterize the terms. Match each phrase with the correct term.
-Double-declining balance

• A)Cost allocation for an intangible asset.
• B)Adding a new major component to existing plant and equipment.
• C)Can be expressed in units of time or in units of activity.
• D)Cost allocation for natural resources.
• E)The amount the company expects to receive for the asset at the end of its life.
• F)The replacement of a major component of plant and equipment asset.
• G)Allocates an equal amount of depreciable base to each period.
• H)Estimates service life in terms of a measure of activity.
• I)The difference between cost and residual value.
• J)Multiplies book value by twice the straight-line rate.

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Definitions:

Montesquieu

A French political philosopher of the Enlightenment who articulated the theory of separation of powers, a foundation for many modern democratic governments.

Judicial Review

The power of courts to assess whether a law or governmental action is consistent with the Constitution and, if not, to declare it invalid.

Federalism

A political system that combines a general government (the federal or national government) with regional governments (states or provinces) in a single political system.

Shared Powers

Constitutional powers that are shared by both the state and federal government, allowing for a balance between centralized and local authority.