Which of the following is NOT an intangible asset? a. Goodwill b. Trademark c. Copyrights d. Long-term receivable | Homework.Study.com (2024)

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• Which of the following is NOT an example of an intangible asset? a) goodwill b) equipment c) copyrights
• Which intangible assets are not amortized over their useful life? a. patents b. goodwill c. trademarks d. all of the above
• Which of the following assets is not considered to have indefinite useful lives? A. Copyrights B. Goodwill C. Renewable franchises D. Trademarks
• Which intangible assets are amortized? Limited-Life Indefinite-Life a. YesYes b. YesNo c. NoYes d. No No
• Which of the following is an example of an intangible asset? a. Patent b. Cash c. Land d. Equipment
• What are intangible assets? How are limited-life intangibles accounted for subsequent to acquisition?
• What is the difference between goodwill and specifically identifiable intangible assets?
• Which of the following accounts would not be considered a tangible asset? a. buildings b. land c. equipment d. copyright
• What are the most important assertions related to long-term assets?
• What are goodwill and intangible assets? What might you want to value these items?
• Which of the following terms is used to identify the expense recognition for intangible assets? a. Amortization b. Depletion c. Depreciation d. Allocation
• The write-off of the cost of an intangible asset is called _______.
• Which of the following is not a characteristic of a fixed asset? a. Recorded at cost b. Use for less than one year
• What type of intangible assets is subject to amortization?
• Which is an example of an intangible asset? a) Patent b) Equipment c) Cash d) Building
• What are the key management assertions related to long-term assets?
• What are intangible assets? Give an example of an intangible asset.
• What is depreciation? Which tangible assets are depreciated, and which are not? Why?
• What are considered long-term fixed assets on an accounting cycle workbook?
• What is the term for the period of time over which a company anticipates deriving benefit from the use of an asset?
• How do capitalizing equipment expenses and long-term assets affect net income?
• Define the following term: Return on assets.
• Which of the following is not an asset?
• According to AASB138, goodwill is not an intangible asset. This means we cannot recognize goodwill. Do you agree? Explain.
• What are goodwill and intangible assets? Why might you want to value these items? What is impairment testing?
• Which of the following is not true relating to intangibles? a. Research and development usually represents a significant intangible on the financial statements. b. Goodwill arises from the acquisition of a business for a sum greater than the physical asse
• What is the carrying value of a long-term note payable?
• Should the legal costs of defending a patent successfully be capitalized as an intangible asset? Explain.
• Define the term intangible asset.
• What type of assets require adjusting entries to record depreciation?
• What are the characteristics of an intangible asset?
• If there no useful life time in intangible assets, how we amortize? Is it possible?
• What is depreciation, and which assets are depreciated?
• What is an intangible asset? Compare and contrast intangible assets to plant assets.
• What are the three major types of intangible assets, and how does the accounting for them differ?
• Expain the difference between tangible and intangible long-lived, revenue-producing assets.
• What is the term for the amount of cash or trade-in consideration that the company expects to receive when an asset is retired from service?
• What are the main characteristics of intangible assets?
• What is the difference between the functions of long-term operational assets and investments?
• Choose the correct answer and explain: Deferred Revenue is a(n) a) expense b) asset c) revenue d) liability
• Explain why the book value of a long-term asset depends on management's choice of depreciation.
• Identify the types of intangible assets, and describe how the accounting treatment for goodwill under U.S. GAAP differs from the accounting treatment for other intangible assets.
• Which depreciation method is not based on the number of accounting periods in which an asset is used?
• When recording the disposal of a long-term operating asset, why is it necessary to debit the accumulated depreciation of the old asset?
• Which of the following statements is true with regard to depreciation expense? a. A company should use the depreciation method that best matches expense recognition with the use of the asset. b. A c
• Explain what an intangible asset is.
• What must an entity disclose about its asset retirement obligations?
• What assets are considered operating assets in return on investment computations?
• What is an intangible asset?
• What is an active market? Is an active market likely to exist for intangible assets such as brand names or development-related expenditures? Explain your answer.
• What is an active market, and is an active market likely to exist for intangible assets such as brand names or development related expenditures? Explain your answer.
• Which of the following is not an accounting standards relevant to private not-for-profit entities. a) FASB 101 b) FASB 93 c) FASB 117 d) FASB 116
• What kind of accounting treatment will an asset that has depreciated fully but that is still used in a business be subjected to?
• What are intangible assets? Give some examples.
• Which accounting concept is the rationale for why plant assets are not reported at liquidation value?
• Why would a gain on sale of long-term assets be subtracted on the cash flow statement?
• What is the term for the amounts owed to suppliers for goods and services purchased?
• The issuance of a long-term debt instrument, such as a bond, by a company would have an immediate effect on what balance sheet items?
• What is the term for debt that is backed up by specific assets of the debtor company?
• Which of the following would not be classified as a current asset?
• Under what conditions may goodwill be reported as an asset?
• What is the owner's claim to the assets of a business called?
• Distinguish between current and long-term assets.
• What is the residual value, or salvage value, of an asset?
• Describe the Accounting for Intangible Assets. Give an example.
• Explain the differences between current and long-term assets and liabilities.
• What's this recapture thing all about, anyway? We tell people that if they sell an asset (either a capital asset or a Sec. 1231 business asset) at a gain, if held more than one year, we will give them
• What are the pros and cons between maintenance expenses and long term assets when dealing with net income?
• What are the main characteristics of intangible assets? How are they presented in the balance sheet?
• What are tangible and intangible assets?
• What is the difference between inventory asset and cost of goods sold?
• Let's say that amortization expenses were $33,000 for patents and copyrights. What would be the journal entry to record this?
• Which of the following is an example of an intangible product? 1. hamburgers 2. computers 3. automobiles 4. dental care
• What is the issue associated with fair value accounting for assets without an active market?
• Which accounting assumption, principle, or constraint is the rationale for why assets are not stated at their liquidation value?
• What costs are included in intangible assets?
• Why are some intangible assets amortized and others are not?
• Which Accounting standard is apply to Fixed Assets? a. 9 b. 11 c. 15 d. 10
• What is the purpose of spreading out an asset's cost over several years?
• How do you test and determine if the indefinite-lived intangible asset in question has been impaired?
• What is the rationale for granting business organizations intellectual property rights?
• Which of the following factors determine depreciation? a. Current market value of asset b. Cost of asset c. Salvage value d. Book value e. Appraisal of asset f. Useful life
• Define depreciation. What kind of asset depreciates?
• What if the treasury shares are retired rather than resold? How does this affect the journal entries in a typical treasury stock example?
• Identify which of the following accounts are temporary (will be closed to Retained Earnings at the end of the year) and which are permanent:
• What is the significance of Accumulated Depreciation as an asset account?
• What do you understand by the following terms? a) Liabilities b) Assets c) Revenue
• Explain the difference between short-term and long-term investments. Cite examples of each.
• What is meant by the amortization of intangible assets?
• What will be the entries when an asset is purchased through the payment of cash and a promissory note?
• What do a relatively high accounts receivable turnover indicate about a company's short-term liquidity?
• Which of the following is not a depreciable asset? a. Computer b. Land c. Vehicle d. Office Furniture
• What distinguishes a short-term liability from a long-term liability?
• How is the cost of an intangible asset determined? Provide examples.
• What can an organization achieve through an asset account like 'Accumulated Depreciation'?
• Which of the depreciation methods discussed in this chapter will usually result in the highest net income in the early years of an asset's life?
• What is the depreciation "equivalent" for non-plant assets?
• What will be the entries made by a company that borrows a short term loan?
• What are the characteristics of assets, liabilities, and owners' equity, and how have they evolved over time?
• What are the three characteristics that qualify an asset as a plant asset?