Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. please answer the 2 questions!! 22. which of th

Please answer the 2 questions!! 22. Which of the following statements about...

80.2K

Verified Solution

Question

Accounting

Please answer the 2 questions!! image
22. Which of the following statements about research and development costs (R\&D) and intangible: assets is correct? (a) Under the US. Generally Accepted Accounting Principles (GAAP). RED costs are recorded as intangible assets. (b) Under the international Financial Reporting Standards (IFRS), some development costs meeting specific requirements can be capitalized as intangible assets. (c) Under the U.S. GAAP, R\&D costs that resulted in soccessful patents will be recorded as patents on the balancesheet (6) Under the U.S. Generally Accepted Accounting Principles (GAAP), R.D costs are amortized over the estimated useful life. Question 23 2.5pts 23. Which of the following statements about a company's goodwill is correct? (a) Goodwill is amortized over a limited useful life. (b) Goodwill does not subject to impairment. (c) Goodwill is only recorded when there is an exchange transaction that involves the purchase of an entire business. (c) Brand image that a company develops internally is recorded as goodwill on the company's balance sheet

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Find two integer pairs of the form (x,y) with |x|<1000 such that 22x+28y=gcd(22,28) (x1,y1)=( (x2,y2)=(

Advance Math
Q

Superior Company provided the following data for the year ended December 31 (all raw materials are...

Accounting
Q

5 Explain why both mitochondrial and chloroplast DNA are only inherited by offspring through the...

Biology
Q

or each of the polynomial descriptions below draw a sketch that may represent that function...

Basic Math
Q

Find the abso minimum off x x 2x 3x 4 5 option A 2 61...

Calculus
Q

3 Using the Pythagorean Theorem if in a right triangle leg b 11 and the...

Algebra
Q

1. Goodrice Company is importing a new variety of rice into Hong Kong. The sales...

Accounting
Q

bund all percentages to four deca On 1/1/XI, Big Oak Table Company sells 800 oak...

Accounting
Q

12. [0/1 Points] DETAILS PREVIOUS ANSWERS MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Assume that...

Finance
Q

round final answer to 2 dec Listen The City...

Finance
Q

11. You are considering making a movie. The movie is expected to cost $10.7 million...

Finance
Q

ETERNITY CAMERA COMPANY makes cameras and film. The company is introducing a new model this...

Accounting