FASB Has Argued That Not Amortizing Certain Intangible Assets Is

question 37

Multiple Choice

FASB has argued that not amortizing certain intangible assets is inappropriate because they have indefinite lives.This argument is supported by which theoretical characteristic?

• A)understandability
• B)representationally faithful
• C)relevance
• D)decision usefulness

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Definitions:

Impression Management

The process of controlling or manipulating the perceptions others have of an individual, organization, or group.

Functionalist Theorists

Sociologists who focus on how society's structures and institutions fit together to meet the needs of the society as a whole.

Social Institutions

Complex, enduring social structures that govern behavior and offer guidelines for behavior in important areas of social life, such as family, education, and religion.

Industrialized Nations

Countries that have undergone industrialization and have a significant level of economic development, technology, and manufacturing infrastructure.