51. Plant assets are recorded at historical cost. What does the historical cost of a

plant asset include?

52. Define book value, residual value, and market value with regard to plant

assets.

53. What does the word capitalize mean?

54. What is depreciation and how is it computed in financial accounting?

55. How do you determine the annual depreciation expense using straight-line

method?

56. What financial statement is a plant asset reported on and how?

57. What is a natural resource? What is depletion?

58. What is an intangible asset? Name three. What is amortization?