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Adv Account Chap 19
Vocab
Term | Definition |
---|---|
Return on Investment (ROI) | The ratio of the money earned on an investment relative to the amount of the investment. |
Real Property | Land and anything attached to the land. |
Personal Property | All property not classified as real property. |
Assessed Value | The value of an asset determined by tax authorities for the purpose of calculating taxes. |
Plant Asset Record | An accounting form on which a business records information about each plant asset. |
Gain | An increase in equity resulting from activity other than selling goods or services. |
Gain on Plant Asset | An increase in equity that results when a plant asset is sold for more than book value. |
Loss | A decrease in equity resulting from activity other than selling goods or services. |
Loss on Plant Asset | The decrease in equity that results when a plant asset is sold for less than book value. |
Intangible Asset | An asset that does not have physical substance. |
Amortization | The spreading of the cost of an intangible asset over its useful life. |