Which of the Following Is Not a Typical Internal Control

question 54

Multiple Choice

Which of the following is not a typical internal control over intangible assets?

• A)Procedures to provide reasonable assurance that decisions are appropriately made as to when to capitalize or expense research and development expenditures.
• B)Development of amortization schedules that reflect the remaining useful life of patents or copyrights associated with the assets.
• C)Procedures to identify and account for intangible asset impairment.
• D)All of the above are typical controls for intangible assets.

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Definitions:

Executive Agency

A part of the government under the executive branch, responsible for enforcing laws and regulations within specific areas.

Iron Triangle

A term describing the policy-making relationship among the congressional committees, the bureaucracy, and interest groups.

Lobbying

The act of attempting to influence the decisions of legislators and officials in the government, often by special interest groups or lobbyists representing business, labor, or other entities.

Adverse Legislation

Legislation that is considered unfavorable or detrimental to the interests of a specific group or the public.