ACC 304 Week 11 Final Exam
TRUE-FALSE—Conceptual
Answer No. Description
F 1. Characteristics of intangible assets.
F 2. Internally created
... [Show More] intangibles.
F 3. Recording internally generated intangibles.
F 4. Amortization of limited-life intangible assets.
T 5. Amortization of intangible assets.
T 6. Amortizing limited-life intangibles.
T 7. Accounting for a customer list.
F 8. Amortization of patents.
T 9. Modification of an existing patent.
T 10. Basic concept of goodwill.
T 11. Internally generated goodwill.
F 12. Recording internally generated goodwill.
T 13. Impairment of intangibles.
T 14. Recognition of impairment loss.
F 15. Recovery of impairment loss.
F 16. Impairment of intangibles.
F 17. Example of research and development costs.
F 18. Capitalizing research and development costs.
F 19. Recording research and development costs.
F 20. Reporting intangible assets.
MULTIPLE CHOICE—Conceptual
Answer No. Description
b 21 Characteristics of intangible assets.
c 22 Characteristics of intangible assets.
a 23 Characteristics of intangible assets.
c 24. Accounting for internally-created intangibles.
a 25. Research and development costs.
b 26. Amortization methods for intangible assets.
d 27. Cost of intangible asset.
d 28. Factors in determining useful life.
b
S29. Classifying intangible assets.
c 30. Impairment of intangibles.
a 31. Determining intangible asset useful life.
b 32. Amortization of intangibles.
d 33. Patent amortization.
c 34. Patent amortization.
d 35. Legal fees associated with patent infringement.
b 36. Identification of intangible assets.
c 37. Amortization of intangible assets.
a 38. Entry to record patent amortization.
c
S39. Trademark costs capitalized.
MULTIPLE CHOICE—Conceptual (cont.)
Answer No. Description
c 40. Composition of goodwill.
b 41. When to record goodwill. d 42. Intangibles during acquisition of company. c 43. Seperability of goodwill. b S44. Goodwill as master valuation account. a 45. Reporting of "negative goodwill." d 46. Accounting for goodwill. a 47. Recording goodwill. b 48. Impairment of intangible asset. d 49. Recoverability test. c S50. Impairment test for indefinite-life intangibles. b P51. Accounting for organization costs. a 52. Capitalization of certain R & D costs. d 53. Accounting principle for R & D expenditures. d 54. Accounting for R & D costs. d 55. Classification of R & D expense. d 56. Costs to defend a patent. b 57. Purpose of R & D costs. d 58. Classification of R & D costs. d 59. Classification of R & D costs. c 60. Costs excluded from R & D expense. b 61. Depreciation of laboratory building used in R & D. a 62. Operating losses during start-up period. d P63. Accounting for organization costs. a S64. Classification of R & D expense. a 65. Reporting goodwill. b 66. Intangible asset disclosure. d 67. Expense classification. c P68. Reporting patent amortization. c 69. Reporting intangibles. d 70. Reporting expenses and losses. d 71. Reporting expenses and losses. b 72. Cost of computer software. d 73. Cost of computer software. c 74. Amortization of computer software costs. d 75. Amortization of computer softwar [Show Less]