According to Generally Accepted Accounting Principles,the Proper Accounting Treatment for the Cost

question 36

Multiple Choice

According to generally accepted accounting principles,the proper accounting treatment for the cost of a trademark that management feels will retain its value indefinitely is to

• A)write the cost off immediately.
• B)amortize the cost over a reasonable life.
• C)amortize the cost over five years.
• D)carry the cost as an asset as long as circumstances continue to support an indefinite life.

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Definitions:

Culture

The collective beliefs, practices, traditions, art, history, folklore, and societal structures belonging to a community of individuals.

Business

The practice of engaging in commercial, industrial, or professional activities with the aim of generating revenue and profit.

Genocide

The deliberate and systematic extermination of a national, racial, political, or cultural group.

Culture

The shared beliefs, customs, arts, and behaviors of a society or group of people.