Match Each of the Following Terms with the Appropriate Definitions

question 211

Multiple Choice

Match each of the following terms with the appropriate definitions.

-A condition which, because of new inventions and improvements, a plant asset is no longer useful in producing goods or services with a competitive advantage.

• A)Obsolescence
• B)Amortization
• C)Depletion
• D)Salvage value
• E)Book value
• F)Land improvements
• G)Copyright
• H)Inadequacy
• I)Patent

---

Definitions:

Minimum Assets

The least amount of assets required by a regulatory body or financial institution for a company to operate or qualify for financing.

Revenue Test

A criterion used to determine the effectiveness of a business's ability to generate income.

Total Amount

The complete sum or quantity calculated by adding together all the individual components or values.

Revenues

The total amount of income generated by the sale of goods or services related to a company's primary operations.