Devry ACCT 305 Week 2 Quiz Latest

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Devry ACCT 305 Week 2 Quiz Latest

 

Week 2 : Operational Assets—Intangibles and Research/Development – Quiz

  1. 1.(TCO 2) An exclusive 20-year right to manufacture a product or use a process is a (Points : 4)

patent.

copyright.

trademark.

franchise.

  1. 2.(TCO 2) Our company purchased all of the outstanding stock of another company, paying $2,700,000 cash.Our company assumed all of the liabilities of other company. Book values and fair values of acquired assets and liabilities were as follows.

Book Value Fair Value

Current assets, net $ 420,000 $ 450,000

Property, plant and equpment, net $ 1,600,000 $ 2,250,000

Liabilities $ 500,000 $ 600,000

Our company would record goodwill of (Points : 4)

$1,180,000.

$600,000.

$880,000.

$100,000.

  1. 3.(TCO 2) Software development costs are capitalized if they are incurred (Points : 4)

prior to the point at which technological feasibility has been established.

after commercial production has begun.

after technological feasibility has been established but prior to the product availability date.

None of the above

  1. 4.(TCO 2) Under U.S.GAAP, research expenditures are (Points : 4)

expensed in the period incurred.

expensed in the period they are determined to be unsuccessful.

capitalized if certain criteria are met.

expensed if unsuccessful, capitalized if successful.

  1. 5.(TCO 2) Goodwill has (Points : 4)

a life of 70 years.

an indefinite life.

a life of 20 years.

a life of 40 years.

 

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Devry ACCT 305 Week 2 Quiz Latest

Best Devry ACCT 305 Week 2 Quiz Latest
Devry ACCT 305 Week 2 Quiz Latest

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