| A | B |
|---|
| 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. |
| declining-balance method of depreciation | Multiplying the book value by a constant depreciation rate at the end of each fiscal period. |
| gain on plant assets | Revenue that results when a plant asset is sold for more than book value. |
| loss on plant assets | The loss that results when a plant asset is sold for less than book value. |
| plant asset record | An accounting form on which a business records information about each plant asset. |
| adequate disclosure | financial information must contain all the necessary information to give a true view of a business's financial condition |
| matching expenses with revenue | the cost of a plant asset must be expensed over the plant asset's useful life |
| empty space | empty space |
| empty space | empty space |
| straight line method | charging an equal amount of depreciation expense for a plant asset in each year of useful life |
