Yu Corporation
Use the following Assets section of Yu Corporation's balance sheets for the years ended December 31,2013 and 2012 to answer the questions that follow.
Yu Corporation recorded depreciation expense of $344 million for 2012.
Refer to the information for Yu Corporation.
Required:
(1)Which items on Yu's balance sheet could be considered intangible assets? Explain the nature of each of these.
(2)Explain why it is important that Yu disclose the amounts expended on research and development each year.
Definitions:
Reliability
The degree to which an assessment tool produces stable and consistent results over time.
Validity
The extent to which a test or instrument measures what it is intended to measure, indicating the accuracy of the test.
Research Process
A systematic procedure that involves the collection, analysis, and interpretation of data to answer a question or solve a problem.
Independent Variable
The variable in an experiment that is manipulated by the researcher to observe its effect on the dependent variable.
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