According to Generally Accepted Accounting Principles,the Proper Accounting Treatment for the Cost

question 36

Multiple Choice

According to generally accepted accounting principles,the proper accounting treatment for the cost of a trademark that management feels will retain its value indefinitely is to

• A)write the cost off immediately.
• B)amortize the cost over a reasonable life.
• C)amortize the cost over five years.
• D)carry the cost as an asset as long as circumstances continue to support an indefinite life.

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Definitions:

Descartes

René Descartes was a French philosopher, mathematician, and scientist who is considered one of the key figures in the development of modern philosophy.

Galen

An ancient Greek physician and philosopher whose work in the field of medicine influenced the development of various medical theories for centuries.

Conformity

The process of aligning one's behaviors, beliefs, and attitudes with the norms or standards of a society or group.

Physiological

pertains to the functions and processes that occur within living organisms to sustain life, including biochemical and physical activities.