How Should Intangible Assets Which Are Readily Identifiable but Not

question 16

Multiple Choice

How should intangible assets which are readily identifiable but not accurately measured be accounted for?

• A) They should be ignored since they can't be accurately measured.
• B) They should be independently appraised and accounted for at their appraised value.
• C) They should be included in Goodwill.
• D) They should be accounted for at an amount deemed reasonable by management.

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Definitions:

Silurian Period

A geologic period and system that extends from about 443.8 million to 419.2 million years ago, noted for significant biological developments including the appearance of the first clearly identifiable land plants.

Air-breathing Animals

Organisms that intake oxygen from the air to the lungs or other special respiratory organs to sustain life.

First Land Animals

Early terrestrial organisms, primarily arthropods and amphibians, that colonized land during the Paleozoic era.

Arthropods

Invertebrate animals with exoskeletons, segmented bodies, and jointed limbs, including insects, arachnids, and crustaceans.