An accounting form on which a business records information about each plant asset Land and anything attached to it All property not classified as real property The value of an asset determined by tax authorities for the purpose of calculating taxes Charging an equal amount of depreciation expense for a plant asset in each year of useful life

1. Plant Asset Record

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

2. Real Property

Land and anything attached to it

3. Personal Property

All property not classified as real property

4. Assessed Value

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

5. Straight-Line Method Of Depreciation

Charging an equal amount of depreciation expense for a plant asset in each year of useful life.

6. Book Value Of Plant Asset

The original cost of a plant asset minus accumulated depreciation

7. Declining-Balance Method Of Depreciation

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

8. Sum-Of-The-Years'-Digits Method of Depreciation

Using fractions based on the number of years of a plant asset's useful life

9. Production-Unit Method Of Depreciation

Calculating estimated annual depreciation expense based on the amount of production expected from a plant asset

10. Modified Accelerated Cost Recovery System

A depreciation method required by the Internal Revenue Service to be used for income tax calculation purposes for most plant assets placed in service after 1986

11. Depletion

The decrease in the value of a plant asset because of the removal of a natural resource