Chapter 12: Intangibles
55. For financial reporting purposes, GAAP requires organization costs to be
a.
expensed in the period in which they are incurred.
b.
capitalized and amortized over 20 years.
c.
capitalized and amortized over the first five years of the company’s existence.
d.
capitalized and treated as an intangible asset with an indefinite life.
a
1
Easy
ACCT.WHAL.16.12.2 – LO: 12.2
United States – BUSPROG: Reflective Thinking – BUSPROG: Analytic
United States – OH – Default City – AICPA: FN-Decision Modeling
Bloom’s: Remembering
56. Which of the following research and development costs should always be capitalized?
a.
costs of intangibles purchased from others.
b.
costs of materials, equipment, and intangibles with alternative future uses purchased from others.
c.
costs of equipment with an expected life greater than three years.
d.
costs of contract services purchased from others.
b
1
Moderate
ACCT.WHAL.16.12.2 – LO: 12.2
United States – BUSPROG: Reflective Thinking – BUSPROG: Analytic
United States – OH – Default City – AICPA: FN-Decision Modeling
Bloom’s: Understanding
57. Burger Prince incurred the following costs during 2017 in the development and production of a new product:
$ 50,000
in legal fees to obtain a patent
$250,000
in the design, construction, and testing of a preproduction prototype and model
$380,000
in engineering activity required to advance the design of the product to the point
that it was ready for manufacture
$ 70,000
in trouble-shooting in connection with breakdowns during commercial
production
How much should be included in R&D expense for 2017?
a.
b.
c.
d.
b
1
Moderate
ACCT.WHAL.16.12.2 – LO: 12.2
United States – BUSPORG: Analytic
United States – OH – Default City – AICPA: FN-Measurement
Bloom’s: Analyzing
58. Which of the following accounting principles or conventions is contradictory to the GAAP requirement to expense
R&D costs immediately?
a.
historical cost principle
b.
comparability
c.
conservatism
d.
matching principle
d
1
Moderate
ACCT.WHAL.16.12.2 – LO: 12.2
United States – BUSPROG: Reflective Thinking – BUSPROG: Analytic
United States – OH – Default City – AICPA: FN-Decision Modeling
Bloom’s: Understanding
59. If a research and development cost has alternative future uses, then the company
a.
expenses the cost in the period incurred.
b.
follows normal accrual procedures.
c.
adds the cost to inventory.
d.
adds the cost to property, plant, and equipment.
b
1
Easy
ACCT.WHAL.16.12.2 – LO: 12.2
United States – BUSPROG: Reflective Thinking – BUSPROG: Analytic
United States – OH – Default City – AICPA: FN-Decision Modeling
Bloom’s: Remembering
60. The following items are excluded from research and development costs except
a.
ongoing efforts to refine an existing product.
b.
design of tools involving new technology.
c.
introducing a new product.
d.
quality control during commercial production.
b
1
Easy
ACCT.WHAL.16.12.2 – LO: 12.2
United States – BUSPROG: Reflective Thinking – BUSPROG: Analytic
United States – OH – Default City – AICPA: FN-Decision Modeling
Bloom’s: Remembering
61. All of the following items are included in research and development costs except
a.
legal work in connection with patent application.
b.
design of prototype models.
c.
evaluation of a potential new product.
d.
research aimed at discovery of new knowledge.
a
1
Easy
ACCT.WHAL.16.12.2 – LO: 12.2
United States – BUSPROG: Reflective Thinking – BUSPROG: Analytic
United States – OH – Default City – AICPA: FN-Decision Modeling
Bloom’s: Remembering
62. All of the following items are expensed as start-up costs except
a.
promotional costs for opening a new facility.
b.
one-time costs for conducting business in a new territory.
c.
licensing fees for starting a new franchise.
d.
accounting fees for forming a new company.
c
1
Moderate
ACCT.WHAL.16.12.3 – LO: 12.3
United States – BUSPROG: Reflective Thinking – BUSPROG: Analytic
United States – OH – Default City – AICPA: FN-Reporting
Bloom’s: Understanding
63. Which of the following statements regarding intangible assets is true?
a.
The expected useful life of an intangible asset is generally easier to estimate than the expected useful life of a
tangible noncurrent asset.
b.
The cost of an intangible asset is not permitted to be amortized for income tax purposes.
c.
Intangible assets have a lower degree of uncertainty with regard to their expected future benefits than tangible
noncurrent assets.
d.
The accumulated amortization for intangible assets that are amortized must be disclosed.
d
1
Easy
ACCT.WHAL.16.12.1 – LO: 12.1
ACCT.WHAL.16.12.3 – LO: 12.3
United States – BUSPROG: Reflective Thinking – BUSPROG: Analytic
United States – OH – Default City – AICPA: FN-Decision Modeling
Bloom’s: Remembering
64. Which of the following is not a required disclosure regarding intangible assets in the period a company acquires
intangible assets?
a.
the cost of any intangible assets acquired, separated into assets subject to amortization, assets not subject to
amortization, and goodwill
b.
for assets subject to amortization, the residual value and the weighted-average amortization period
c.
the rate of return used to estimate the value of goodwill purchased
d.
the cost of any research and development acquired and written off, and where it is included in the income
statement
c
1
Moderate
ACCT.WHAL.16.12.3 – LO: 12.3
United States – BUSPROG: Reflective Thinking – BUSPROG: Analytic
United States – OH – Default City – AICPA: FN-Decision Modeling
Bloom’s: Understanding
65. Which of the following is not a required disclosure regarding intangible assets that are amortized for each period a
company presents a balance sheet?
a.
the total cost
b.
the accumulated amortization
c.
the amortization expense
d.
the estimated amortization expense for the next ten years
d
1
Moderate
ACCT.WHAL.16.12.3 – LO: 12.3
United States – BUSPROG: Reflective Thinking – BUSPROG: Analytic
United States – OH – Default City – AICPA: FN-Decision Modeling
Bloom’s: Understanding
a
1
Easy
ACCT.WHAL – 16.12.4 LO 12.4
United States – BUSPROG – Reflective Thinking; BUSPROG: Analytic
United States – OH – Default City – AICPA – FN-Decision Modeling
66. Which of the following is not a required disclosure regarding goodwill for each period a company presents a balance
sheet?
a.
the amount of goodwill acquired
b.
the amount of goodwill sold
c.
the amount of any impairment loss recognized
d.
the amount of any goodwill included in the disposal of a reporting unit
b
1
Moderate
ACCT.WHAL.16.12.3 – LO: 12.3
United States – BUSPROG: Reflective Thinking – BUSPROG: Analytic
Bloom’s: Understanding
67. Which of the following is an intangible asset that is not typically amortized?
a.
patent
b.
copyright
c.
franchise
d.
Goodwill
d
1
ACCT.WHAL.16.12.4 – LO: 12.4
United States – BUSPROG: Reflective Thinking – BUSPROG: Analytic
United States – OH – Default City – AICPA: FN-Decision Modeling
Bloom’s: Remembering
68. All of the following are considered marketing-related intangible assets except
a.
copyright.
b.
internet domain name.
c.
noncompete agreement.
d.
trademark.
69. ________ are contractual agreements which grant the right to perform certain functions or sell certain products or
services.
a.
Noncompete agreements
b.
Franchises
c.
Trademarks
d.
Customer acquisition lists
b
1
Easy
ACCT.WHAL. – 16.20.1 – LO 20.1
United States – BUSPROG – Reflective Thinking; BUSPROG: Analytic
United States – OH – Default City – AICPA – FN-Decision Modeling
Bloom’s: Remembering
70. Trademarks or trade names
a.
must be renewed every 35 years.
b.
can be considered intangibles with indefinite lives.
c.
are developed internally and thus should not have any related costs capitalized and amortized.
d.
are synonymous with internally developed goodwill.
b
1
Easy
ACCT.WHAL. – 16.20.1 – LO 20.1
United States – BUSPROG – Reflective Thinking; BUSPROG: Analytic
United States – OH – Default City – AICPA – FN-Decision Modeling
Bloom’s: Remembering
71. The cost of a copyright should
a.
be amortized over a period not to exceed the life of the author plus 50 years.
b.
be amortized over a period not to exceed 20 years, unless the right is renewed.
c.
not be amortized and the cost should be capitalized as an asset with indefinite life.
d.
d
1
Easy
ACCT.WHAL. – 16.20.1 – LO 20.1
United States – BUSPROG – Reflective Thinking; BUSPROG: Analytic
United States – OH – Default City – AICPA – FN-Decision Modeling
Bloom’s: Remembering
be amortized over a period not to exceed its economic life.
72. A patent is amortized over its expected useful life or 20 years. The expected useful life can be impacted by all of the
following except
a.
a unsuccessful lawsuit against a competitor.
b.
the federal government renewing the original patent.
c.
technical innovations by a competitor.
d.
product improvements by the patent holder.
b
1
Moderate
ACCT.WHAL.16.12.4 – LO: 12.4
United States – BUSPROG: Reflective Thinking – BUSPROG: Analytic
United States – OH – Default City – AICPA: FN-Decision Modeling
Bloom’s: Understanding
73. R Company registered a patent on January 1, 2015. P Company purchased the patent from R Company for $450,000
on January 1, 2020, and began to amortize the patent over its remaining legal life. In early 2021, P Company
determined that the patent’s economic benefits would last only until the end of 2025. What amount should P Company
record for patent amortization in 2021?
a.
$90,000
b.
$84,000
c.
$70,000
d.
$30,000
b
1
Moderate
ACCT.WHAL.16.12.4 – LO: 12.4
United States – BUSPORG: Analytic
Bloom’s: Analyzing
74. During 2016, Frank Company incurred $200,000 in legal fees in defending a patent with a carrying value of
$3,500,000 against an infringement. Farver’s lawyers were successful with the defense of the patent. The legal fees
should be
a.
expensed in 2016 and classified as ordinary expense.
b.
classified as an extraordinary item on the income statement for 2016.
c.
capitalized and amortized over the remaining legal life of the patent.
d.
capitalized and amortized over the remaining economic life or legal life of the patent, whichever is shorter.
d
1
Moderate
ACCT.WHAL.16.12.4 – LO: 12.4
United States – BUSPROG: Reflective Thinking – BUSPROG: Analytic
United States – OH – Default City – AICPA: FN-Decision Modeling
Bloom’s: Understanding
75. During 2016, Debbie Company incurred $240,000 in legal fees in defending a patent with a carrying value of
$4,500,000 against an infringement. Debbie’s lawyers were not successful with the defense of the patent. The legal
fees should be
a.
expensed in 2016 and classified as ordinary expense.
b.
classified as an extraordinary item on the income statement for 2016.
c.
capitalized and amortized over the remaining legal life of the patent.
d.
capitalized and amortized over the remaining economic life or legal life of the patent, whichever is shorter.
a
1
Easy
ACCT.WHAL.16.12.4 – LO: 12.4
United States – BUSPROG: Reflective Thinking – BUSPROG: Analytic
United States – OH – Default City – AICPA: FN-Decision Modeling
Bloom’s: Analyzing
76. In January 2014, the Jennifer Corporation purchased a patent for $231,000 from Travis Company that had a remaining
legal life of 14 years. Jennifer estimated that the remaining economic life would be seven years. In January 2018, the
company incurred $30,000 in legal costs to defend the patent from an infringement. Jennifer’s lawyers were
successful, and the remaining years of benefit from the patent were estimated to be six years. The patent amortization
expense for 2018 is
a.
$7,615
b.
$9,923
c.
$16,500
d.
$21,500
d
1
Moderate
ACCT.WHAL.16.12.4 – LO: 12.4
United States – BUSPORG: Analytic
United States – OH – Default City – AICPA: FN-Measurement
Bloom’s: Analyzing
77. The amortization period for a patent is
a.
indefinite; patents should be reviewed for impairment annually.
b.
20 years.
c.
20 years or the expected useful life of the patent, whichever is longer.
d.
20 years or the expected useful life of the patent, whichever is shorter.
d
1
Easy
ACCT.WHAL.16.12.4 – LO: 12.4
United States – BUSPROG: Reflective Thinking – BUSPROG: Analytic
United States – OH – Default City – AICPA: FN-Decision Modeling
Bloom’s: Remembering
78. In January 2014, Western Co. purchased a patent for $750,000 that had an estimated remaining economic life of ten
years. On January 2, 2017, the company incurred $140,000 in legal fees to successfully defend the validity of the
patent. In January 2019, the company incurred $88,000 in legal fees in a new infringement lawsuit. In this situation,
the lawsuit was lost, and the patent was determined to be worthless as a result. The expense to be recognized in 2019
by Western with regard to the patent is
a.
b.
c.
d.
d
1
Moderate
ACCT.WHAL.16.12.4 – LO: 12.4
United States – BUSPORG: Analytic
United States – OH – Default City – AICPA: FN-Measurement
Bloom’s: Analyzing
79. In 1975, Riveria Company had acquired copyrights for $750,000 on several literary works from some obscure 18th
century authors. These copyrights were fully amortized by 2015. In early 2015, a new anthropological discovery made
these copyrights worth $2,500,000. As a result, Riveria should report which of the following in its financial
statements for 2015?
a.
$2,500,000 as a holding gain
b.
$750,000 as copyrights-based recovery of value limited to historical cost
c.
$2,500,000 as an extraordinary item
d.
d
1
Moderate
ACCT.WHAL.16.12.4 – LO: 12.4
United States – BUSPROG: Reflective Thinking – BUSPROG: Analytic
United States – OH – Default City – AICPA: FN-Decision Modeling
Bloom’s: Understanding
Cannot be recognized under U.S. GAAP in the financial statements
Chapter 12: Intangibles
80. Debbie acquired a franchise to operate a donut shop from Dollar Donuts, Inc., for $100,000. She incurred an
additional $4,000 in legal costs to negotiate the terms with the franchiser. In five years, the franchise contract will be
renegotiated. The current contract also states that there will be a $3,000 annual fee plus a two percent charge based on
the store’s annual revenue, which is expected to average 90,000 per year. The franchise cost that should be capitalized
is
a.
b.
c.
d.
d
1
Moderate
ACCT.WHAL.16.12.4 – LO: 12.4
United States – BUSPORG: Analytic
United States – OH – Default City – AICPA: FN-Measurement
Bloom’s: Analyzing
81. Development costs related to computer software that is to be sold, leased, or otherwise marketed should be accounted
for in which of the following ways?
a.
All software development costs should be recorded as R&D expense.
b.
All software development costs should be capitalized.
c.
All software development costs should be recorded as R&D expense until technological feasibility is
established.
d.
All software development costs should be recorded in R&D expense until the product is available for general
release to customers.
c
1
Moderate
ACCT.WHAL.16.12.4 – LO: 12.4
United States – BUSPROG: Reflective Thinking – BUSPROG: Analytic
United States – OH – Default City – AICPA: FN-Decision Modeling
Bloom’s: Understanding
82. Development costs related to computer software that is to be sold, leased, or otherwise marketed should be accounted
for in which of the following ways?
a.
All software development costs incurred between the establishment of technological feasibility and general
release should be recorded as R&D expense.
b.
All software development costs incurred between the establishment of technological feasibility and general
release should be capitalized.
c.
All software development costs should be capitalized until technological feasibility is established.
d.
All software development costs should be recorded in R&D expense until the product is available for general
release to customers.
b
1
Moderate
ACCT.WHAL. – 16.20.1 – LO 20.1
United States – BUSPROG – Reflective Thinking; BUSPROG: Analytic
United States – OH – Default City – AICPA – FN-Decision Modeling
Bloom’s: Understanding
83. Based on GAAP, most software development costs are likely to be
a.
expensed as R&D costs.
b.
allocated to inventory and expensed to cost of goods sold when the software is sold.
c.
capitalized and amortized over a 40-year period.
d.
capitalized and amortized over a relatively short period, such as five years.
a
1
Easy
ACCT.WHAL.16.12.4 – LO: 12.4
United States – BUSPROG: Reflective Thinking – BUSPROG: Analytic
United States – OH – Default City – AICPA: FN-Decision Modeling
Bloom’s: Remembering
84. Technological feasibility of software products is established when
a.
the application to patent the technology is filed with the federal government.
b.
the designing, coding, and testing is to be sold or licensed to third parties.
c.
the product is ready for general release.
d.
a detailed program design is completed.
d
1
Moderate
ACCT.WHAL. – 16.20.1 – LO 20.1
United States – BUSPROG – Reflective Thinking; BUSPROG: Analytic
Bloom’s: Analyzing
85. The Shane Company began business early in 2016, when Shane paid an initial fee of $100,000 to purchase a franchise.
In forming the company, Shane also spent $11,000 on legal fees and $4,500 on accounting fees. During the year,
Shane spent $7,500 on product development and paid $10,000 in continuing franchise fees. What amount should
Shane capitalize for intangible assets in 2016?
a.
b.
c.
d.
a
1
Moderate
ACCT.WHAL.16.12.4 – LO: 12.4
United States – BUSPORG: Analytic
United States – OH – Default City – AICPA: FN-Measurement
Bloom’s: Analyzing
86. During the period from 2013 to the end of 2014, Excellence, Inc. spent $90,000 on research and development for an
invention that was patented on January 1, 2015. Excellence estimated that the patented invention would be useful in
its production for 10 years. At the beginning of 2017, Excellence paid $16,000 in legal fees in a successful defense of
the patent. What is Excellence’s patent amortization expense for 2017?
a.
$25,000
b.
$11,000
c.
$10,600
d.
$2,000
d
1
Moderate
ACCT.WHAL.16.12.4 – LO: 12.4
United States – BUSPORG: Analytic
United States – OH – Default City – AICPA: FN-Measurement
Bloom’s: Analyzing
87. On January 1, 2015, Moose Co. purchased for $360,000 a patent that had been granted two years earlier. On January
1, 2017, legal costs of $64,000 were incurred in a successful defense of the patent. Assuming the maximum period
allowable is used for patent amortization, what is Moose’s patent amortization expense for 2017?
a.
$18,000
b.
$20,000
c.
$21,555
d.
$24,000
d
1
Moderate
ACCT.WHAL.16.12.4 – LO: 12.4
United States – BUSPORG: Analytic
United States – OH – Default City – AICPA: FN-Measurement
Bloom’s: Analyzing
88. Which of the following statements concerning intangibles is true?
a.
A copyright should be considered an intangible with an indefinite life.
b.
Organization costs must be expensed as incurred.
c.
A patent should be amortized over the shorter of the inventor’s life or its economic life.
d.
b
1
Moderate
ACCT.WHAL.16.12.4 – LO: 12.4
United States – BUSPROG: Reflective Thinking – BUSPROG: Analytic
United States – OH – Default City – AICPA: FN-Decision Modeling
Bloom’s: Understanding
The registration of a trademark or trade name lasts for 20 years and is nonrenewable.
89. As computer software to be sold, leased, or otherwise marketed is developed, software production costs should be
accounted for according to which of the following sets?
Set
Expense up to
Capitalize after
technological feasibility
general release
I.
Yes
Yes
II.
Yes
No
III.
No
Yes
IV.
No
No
a.
Set I
b.
Set II
c.
Set III
d.
Set IV
b
1
Moderate
ACCT.WHAL.16.12.4 – LO: 12.4
United States – BUSPROG: Reflective Thinking – BUSPROG: Analytic
United States – OH – Default City – AICPA: FN-Decision Modeling
Bloom’s: Understanding
90. The Lane Company incurred the following expenditures in January 2016: (1) research and development costs of
$510,000 that resulted in a new product that was patented during the year, (2) $12,000 in legal fees to have the patent
registered, (3) $100,000 in advertising costs to develop a trademark for the newly patented product, (4) Legal fees of
$8,000 incurred with the registration of the trademark, which will only be used for five years, and (5) $25,000 of
advertising costs to promote its good name. Benefits to be derived from the patent are expected to last for five years.
The president believes the promotion of Lane’s good name will benefit the firm for three years. How much
amortization expense should Lane recognize for 2016?
a.
$1,000
b.
$4,000
c.
$9,000
d.
$25,000
b
1
Challenging
ACCT.WHAL.16.12.4 – LO: 12.4
United States – BUSPORG: Analytic
United States – OH – Default City – AICPA: FN-Measurement
Bloom’s: Analyzing
91. Internal use software costs are
a.
always expensed
b.
always capitalized
c.
capitalized once the preliminary cost is completed
d.
capitalized once the preliminary cost is completed and the software will be used to perform the function
intended
d
1
Easy
ACCT.WHAL.16.12.4 – LO: 12.4
United States – BUSPROG: Reflective Thinking – BUSPROG: Analytic
Bloom’s: Remembering
92. In 2014, Xenex Market Services began development of a customer management software package for their own
internal use and incurred $40,000 costs related to conceptual formulation of design alternatives. In 2015, management
agreed to fully fund development of the software and spent $120,000 in development costs. In 2016, development was
completed after incurring an additional $160,000 in development costs plus another $ 60,000 was spent on training
costs for using the software. In 2017, the company started using the software and began amortizing related costs over
a 10-year expected useful life. What is the amount of amortization expense for 2017 for this internally-developed
software?
a.
$28,000
b.
$32,000
c.
$34,000
d.
$38,000
a
1
Moderate
ACCT.WHAL.16.12.4 – LO: 12.4
United States – BUSPROG: Reflective Thinking – BUSPROG: Analytic
United States – OH – Default City – AICPA: FN-Reporting
Bloom’s: Applying
93. Which statement regarding goodwill is true?
a.
Goodwill is an unidentifiable intangible asset.
b.
Internally developed goodwill should be capitalized while purchased goodwill should be expensed.
c.
Goodwill can be defined as the value attached to the ability of a company to earn a higher than normal rate of
return on the book value of its identifiable assets.
d.
In some situations, GAAP and IFRS requires that negative goodwill be recorded.
a
1
Easy
ACCT.WHAL.16.12.5 – LO: 12.5
United States – BUSPROG: Reflective Thinking – BUSPROG: Analytic
Bloom’s: Remembering
94. Which statement about negative goodwill is true?
a.
Negative goodwill is not recorded.
b.
Negative goodwill should be recorded as a direct credit to retained earnings.
c.
Negative goodwill should be allocated proportionately to reduce the cost of all assets acquired on the basis of
their relative market values.
d.
Negative goodwill should be allocated proportionately to reduce the cost of all assets acquired EXCEPT long–
term investments and other financial assets on the basis of their relative market values.
a
1
Easy
ACCT.WHAL.16.12.5 – LO: 12.5
United States – BUSPROG: Reflective Thinking – BUSPROG: Analytic
United States – OH – Default City – AICPA: FN-Decision Modeling
Bloom’s: Remembering
95. Which of the following statements regarding goodwill is false?
a.
Goodwill is never amortized for financial reporting purposes.
b.
A company must review its goodwill for impairment annually.
c.
A company must review its goodwill for impairment whenever events or changes in circumstances occur that
would more likely than not reduce the fair value below its carrying value.
d.
A company records goodwill at the time that it acquires another company or at the time it determines that
material intellectual capital exists in its employees.
d
1
Easy
ACCT.WHAL.16.12.5 – LO: 12.5
United States – BUSPROG: Reflective Thinking – BUSPROG: Analytic
United States – OH – Default City – AICPA: FN-Decision Modeling
Bloom’s: Remembering
96. Which of the following statements concerning internally developed goodwill is true?
a.
It is a separately identifiable asset.
b.
It is capitalized at its cost.
c.
The costs associated with its development are expensed as incurred.
d.
Measuring its value is relatively easy and faithfully represented.
c
1
Easy
ACCT.WHAL.16.12.5 – LO: 12.5
United States – BUSPROG: Reflective Thinking – BUSPROG: Analytic
United States – OH – Default City – AICPA: FN-Decision Modeling
Bloom’s: Remembering
97. The Clementine Company agreed to purchase the Orange Company for $650,000. At the date of purchase, Orange had
current assets with a fair market value of $400,000, noncurrent assets (including no marketable securities) with a fair
market value of $700,000, and liabilities of $500,000. In accounting for this transaction, Clementine should
a.
record noncurrent assets at $650,000
b.
record a debit of $50,000 as a loss on the purchase
c.
record goodwill of $50,000 to be reviewed annually for impairment
d.
record current assets at $550,000
c
1
Moderate
ACCT.WHAL.16.12.5 – LO: 12.5
United States – BUSPROG: Reflective Thinking – BUSPROG: Analytic
United States – OH – Default City – AICPA: FN-Decision Modeling
98. An inconsistency in accounting theory can occur because
a.
internally developed goodwill is expensed, while purchased goodwill is capitalized.
b.
internally developed goodwill is capitalized, while purchased goodwill is expensed.
c.
internally developed goodwill is amortized, while purchased goodwill is maintained but tested for impairment.
d.
purchased goodwill is amortized, while internally developed goodwill is maintained but tested for impairment.
a
1
Moderate
ACCT.WHAL.16.12.5 – LO: 12.5
United States – BUSPROG: Reflective Thinking – BUSPROG: Analytic
United States – OH – Default City – AICPA: FN-Decision Modeling
Bloom’s: Understanding
99. Impairment losses may be reversed under
Set
GAAP
IFRS
I.
Yes
Yes
II.
Yes
No
III.
No
Yes
IV.
No
No
a.
Set I
b.
Set II
c.
Set III
d.
Set IV
c
1
Easy
ACCT.WHAL.16.12.5 – LO: 12.5
United States – BUSPROG: Reflective Thinking – BUSPROG: Analytic
United States – OH – Default City – AICPA: FN-Decision Modeling
Bloom’s: Remembering