King Mine Corp., a publicly accountable entity, is determining the technical feasibility of extraction of mineral resources. How would the company account for the costs incurred?   Question 14 options:   a)  Work is preliminary and experimental, so costs must be expensed.   b)  Costs can be capitalized as exploration and evaluation costs, or expensed.   c)  Costs must be capitalized as property, plant, and equipment.   d)  Costs must be capitalized as inventory.

In the case study of Company XYZ's challenges in accounting for goodwill and intangible assets impairment, which factor poses a risk to the value of intangible assets such as patents and software? A) Technological advancements B) Annual amortization C) Lack of impairment testing D) Economic stability

One factor that is not considered in determining the useful life of an intangible asset is * Residual value Provision for renewal or extension Expected action of competitors Legal life When a patent is amortized, the credit is usually made to * The patent account As accumulated amortization account An expense account An accumulated depreciation account A trademark is an example of which category of intangible asset? Artistic-related Contract-based Customer-related Market-related Which is a research and development cost? * Research and development performed under contract for others Development or improvement of technique and process Offshore oil exploration that is the primary activity of an entity Market research related to a major product for the entity O O O O O O O O

Which of the following items may be treated as excluded costs from the amortization base for a full cost company? Group of answer choices A. Dry hole costs on unproved properties B. Delay rentals on unproved properties C. Impairment costs on unproved properties D. Abandonment costs of unproved properties