Financial Accounting > EXAM > PLANT ASSETS, NATURAL RESOURCES, AND INTANGIBLE ASSETS (All)
PLANT ASSETS, NATURAL RESOURCES, AND INTANGIBLE ASSETS
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Describe how the historical cost principle applies to plant assets. 2. Explain the concept of depreciation and how to compute it. 3. Distinguish between revenue and capital expenditures, and explain... the entries for each. 4. Explain how to account for the disposal of a plant asset. 5. Compute periodic depletion of natural resources. 6. Explain the basic issues related to accounting for intangible assets. 7. Indicate how plant assets, natural resources, and intangible assets are reported. 8. Explain how to account for the exchange of plant assets. [Show More]
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