Chapter 12--Intangibles 3 c

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1、Chapter12--Intangibles3copyStudent:___________________________________________________________________________1.Purchasedintangibleassetsaregenerallyexpensedattheiracquisitioncostsbecausethefutureeconomicbenefitsassociatewiththemaredifficulttomeasure.  True    False

2、 2.Unidentifiableintangibleassetsareintangibleassetsthatcanbeseparatedfromthecompanyandsold,transferred,licensed,rented,orexchanged.  True    False 3.Engineeringfollow-throughinanearlystageofcommercialproductioncanbeincludedinR&D.  True    False 4.Legalworkinconnect

3、ionwithpatentapplicationsorlitigation,andthesaleorlicensingofpatentsisexcludedfromR&D.  True    False 5.GAAPrequirescompaniestodiscloseanycostsofresearchanddevelopmentacquiredandwrittenoffaswellaswheretheinformationcanbefoundontheincomestatement.  True    False 6.Fo

4、rintangibleassetsthatareamortized,thetotalcost,accumulatedamortization,amortizationexpense,andestimatedamortizationexpenseforthenext5yearsneedstobedisclosed.  True    False 7.Trademarksareconsideredtohaveanindefinitelifeandarethereforenotsubjecttoamortization.  True

5、    False 8.Acopyrightisgrantedbythefederalgovernmentgivingtheownerexclusiverightstosell,publish,andcontroltheartisticproductforthelifeofthecreator.  True    False 9.Thecostsassociatedwithinternallydevelopedgoodwillarecapitalized.  True    False 10.U.S.GAAPallowsaco

6、mpanytocapitalizemoreofthecostsofinternallygeneratedassetsthanallowedunderIFRS.  True    False 11.Whichofthefollowingcharacteristicsisnotcommontobothtangibleandintangibleassets?  A. heldforuseandnotforinvestmentB. expectedlifeofmorethanoneyearC. derivevaluefromtheab

7、ilitytogeneraterevenueD. mayhavevalueonlytoaparticularcompany 12.Thecostofaninternallydevelopedunidentifiableintangibleisexpensedasincurred.Accordingly,whichoneofthefollowingcostswouldbeexpensedintheyearitwasincurred?  A. legalcostofobtainingapatentB. costofimprovem

8、entswithathree-yearlifemadetoanassetthatisbeingleasedbythecompanyforafive-yearperiodC. deferredchargesD. costincurredtotrainmanagement-lev