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30) Listed below are five terms followed by a list of phrases that describe or characterize each of the terms. Match each phrase with the number for the correct term. TERM 1. Goodwill NUMBER 5 1 2. Depreciation PHRASE Long-term assets that generally represent various types of rights. Consideration given less fair value of net identifiable assets. The cost allocation of equipment. The allocation of cost of natural resources. Protects against infringements on manufactured products. 2 3 3. Depletion 4. Patents 5. Intangible assets 014 4 31) Listed below are 10 terms followed by a list of phrases that describe or characterize the terms. Match each phrase with the number for the correct term. NUMBER 6 TERM PHRASE 1. Improvements Can be expressed in units of time or in units of activity. 2. Service life The amount the company expects to receive for the asset at the end of its life. 3. Amortization Cost allocation for an intangible asset. 4. Straight-line method The replacement of a major component of plant and equipment asset. 5. Double-declining-balance Allocates an equal amount of depreciable base to each period. 6. Activity-based method Adding a new major component to existing plant and equipment. 7. Residual value The difference between cost and residual value. 8. Depletion Multiplies book value by twice the straight-line rate. 9. Additions Cost allocation for natural resources. 10. Allocation base Estimates service life in terms of a measure of activity. | || | |