Accounting > EXAM > ACC 304 Week 11 Final Exam (All)

ACC 304 Week 11 Final Exam

Document Content and Description Below

ACC 304 Week 11 Final Exam TRUE-FALSE—Conceptual Answer No. Description F 1. Characteristics of intangible assets. F 2. Internally created intangibles. F 3. Recording internally generated intan... gibles. 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 More]

Last updated: 2 years ago

Preview 1 out of 244 pages

Buy Now

Instant download

We Accept: