In Evaluating Control Risk and Effectiveness for Intangible Assets,controls Should

question 65

Multiple Choice

In evaluating control risk and effectiveness for intangible assets,controls should be designed for numerous purposes.Which of the following is not a usual control for intangible assets?

• A)ensure that decisions are appropriately made as to when to capitalize or expense research and development expenditures.
• B)develop amortization schedules that reflect the remaining useful life of patents or copyrights associated with the assets.
• C)identify and account for intangible asset impairment.
• D)all of the above are usual controls for intangible assets.

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Definitions:

Neutral and Passive

Adopting a stance or position that does not favor any side in a dispute or conflict, and not actively engaging in any particular action.

Community Relations

The practice of managing and improving the relationship between an organization and the communities where it operates to foster a positive image and mutual benefit.

Public Officials

Individuals holding elected or appointed positions within government institutions, responsible for making decisions and implementing policies that impact the public.

Special Interest Groups

Organizations or groups with specific goals or interests, often aiming to influence public policy or opinion.