Current Accounting Standards Indicate That the Costs of Intangible Assets

question 92

Multiple Choice

Current accounting standards indicate that the costs of intangible assets with an indefinite life,such as goodwill,should

• A)not be amortized.
• B)be reported on the statement of retained earnings in the year in which acquired.
• C)be amortized over a reasonable period of time not to exceed 40 years.
• D)increase an expense account entirely in the year in which acquired.

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Definitions:

Women

Female human beings, especially considered as a distinct social or demographic group.

Population Growth

The expansion of a population due to birth rates exceeding death rates, often measured in percentage change per year.

Family Planning Program

is a health initiative that provides individuals and couples information and access to services regarding reproductive health, including birth control, to enable planning and spacing of births.

China

A country in East Asia, known for being one of the world's oldest civilizations and currently the most populous country.