The Net Amount Shown on a Balance Sheet for an Intangible

question 63

Multiple Choice

The net amount shown on a balance sheet for an intangible asset with an unlimited life should be:

• A)the price for which it could be sold.
• B)its acquisition cost or current market value,whichever is lower.
• C)its purchase price minus accumulated amortization.
• D)its purchase price adjusted for inflation.

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Definitions:

Perimeter

The total distance around the edge of a two-dimensional shape.

Vertices

The corners or points where two or more edges meet in a geometric shape.

Shifted

Refers to the transformation of a graph or equation that results in its movement to a different position on the coordinate plane, without altering its shape.

Coordinates

A set of values that show an exact position. On graphs, it usually refers to a pair of numbers that define a point in two-dimensional space.