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.

---

Definitions:

Neural Membrane

The lipid bilayer that encloses the cytoplasm of neurons, essential for conducting electrical impulses.

Ions

Atoms or molecules that have gained or lost one or more of their electrons, resulting in a net electric charge.

Plasticity

The capacity of the brain to change and adapt in response to experience, learning, or injury.

Brain

The complex organ located in the skull of vertebrates that is the center of the nervous system, responsible for controlling thought, memory, emotion, touch, motor skills, vision, breathing, temperature, hunger, and every process that regulates our body.