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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. |