Accounting - Chapter 18

land and anything attached to the land

all property not classified as real property

the value of an asset determined by tax authorities for the purpose of calculating taxes

an accounting form on which a business records information about each plant asset

revenue that results when a plant asset is sold for more tan book value

the loss that results when a plant asset is sold for less than book value

multiplying the book value by a constant depreciation rate at the end of each fiscal period