Intangible assets on the balance sheet are subject to: Depreciation Amortization O None of the Above

under what conditions a short-term obligation should be excluded from current assets

Impairment of an intangible asset occurs when the book value of an asset is less than the fair value. True O False

Why certain long-lived assets are depreciated (amortized)?

In interest capitalization related to self constructed assets, all of the following must occur before the capitalization window begins except: A.Expenditures for the assets have been incurred   B.Depreciation of the asset being built has been recognized   C.Activities that are necessary to get the asset ready for its intended use are in progress   D.Interest has to be incurred

TRUE OR FALSE Amortization of intangibles is usually done over the asset’s legal life.

Which of the following statements is FALSE? Some intangible assets are not required to be amortized. Research and development expenditures are expensed as incurred because of the uncertainty regarding their future cash flows. Amortization expense is generally recorded with a credit to the Accumulated Amortization account. Internally generated goodwill is not capitalized in the accounts.

Internally generated intangible assets are initially recorded at fair value. O True O False