Examlex
Why do organizations use budgeted rates instead of actual rates to allocate the costs of support departments to each other and to user departments and divisions? Explain.
Straight Line Amortization
A method of allocating the cost of an intangible asset over its useful life in equal annual amounts.
Impairment
A decrease in the recoverable value of an asset below its carrying amount on the balance sheet, necessitating a write-off.
Goodwill
The intangible asset that arises when a company acquires another for a price higher than the fair value of its identifiable tangible and intangible assets.
Indefinite Useful Life
An intangible asset that is not expected to deplete over a measurable period of time, and hence is not amortized.
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