The Carrying Amount of an Intangible Is

question 78

Multiple Choice

The carrying amount of an intangible is

• A)the fair market value of the asset at a balance sheet date.
• B)the asset's acquisition cost less the total related amortization recorded to date.
• C)equal to the balance of the related accumulated amortization account.
• D)the assessed value of the asset for intangible tax purposes.

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Definitions:

Collectivists

Individuals or cultures that prioritize the goals and well-being of the group over those of the individual.

Individualists

Persons who prioritize personal goals and independence over collective goals and interdependence.

Social Norms

Implicit or explicit rules a group holds that influence how its members behave in a typical situation.

External Causes

Factors or circumstances outside the control or influence of an individual that contribute to a particular outcome or situation.