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:

Reaction

A process in which chemical substances interact, leading to the rearrangement of their atomic connectivity and the formation of different substances.

Compound

A substance formed from two or more elements that are chemically combined in fixed proportions.

Common Name

A non-scientific or traditional name given to a substance or organism, often simpler and more widely used than its official name.

Organic Product

A compound predominantly composed of carbon and hydrogen atoms, typically resulting from the chemical reaction of organic substances.