1. Plant, property, and equipment 2. Depreciation 3. Depreciation expense 4 Accumulated depreciation 5. Book value (or carrying value) 6. Useful life 7. Residual value (or salvage value) 8. Depreciable cost A. Total amount of depreciation expense that has been recorded for an asset since the asset was acquired. B. Costs incurred to form a company C. An accelerated depreciation method that produces a declining amount of depreciation expense each period the asset is used. D. The amount of cash or trade-in consideration a company expects to receive when as asset is retired from service, E. Permanent decline in the future benefit or service of an asset F. When the company determines the asset is no longer useful G. Tangible operating assets used in the normal operations of a company. H. Expenditures that do not increases the future economic benefits of the asset 1. When assets are lost or destroyed through theft, acts of nature or accident 1. The amount of depreciation recorded for each period on the income statement. K. Coal deposits, oil reserves and mineral deposits L Internally developed intangible assets where the cost of developing the asset is expensed as incurred M. The cost of an asset minus its residual value N. The cost of a intangible asset with a finite life allocated to periods over the life of the asset 9. Straight-line depreciation method 10. Declining balance depreciation method 11. Units of Production method 12. Revenue expenditures 13. Capital expenditures 14 Voluntary disposal 15. Involuntary disposal 16. Intangible operating assets 17. Research and development expenses 18. Organizational costs O. Expenditures that extend the life of the asset P. The process of allocating the cost of a tangible fixed asset to expense other the asset's useful life. Q. Allocation of equal amounts of an asset's cost to depreciation expense for each year of the asset's useful life, R. Allocation of natural resource costs to periods as the asset is removed from the earth S. Cost of an asset less its accumulated depreciation 1. The period of time over which the company anticipates deriving benefit from the use of the asset. U. Measured by the productive capacity of the asset (eg. Units produced) V. Assets that represent future economic benefit to the company, but lack physical substance 19. Amortization 20. Natural resources 21. Depletion 22. Impairment