ch12 - Internally created intangibles are recorded at cost....

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  Internally created intangibles are recorded at cost. True False Question  2 (1 point) Save      Some intangible assets are not required to be amortized every year.      True False Question  3 (1 point) Save      Limited-life intangibles are amortized by systematic charges to expense over their useful life. True False Question  4 (1 point) Save      The cost of acquiring a customer list from another company is recorded as an intangible asset. True False Question  5 (1 point) Save      The cost of purchased patents should be amortized over the remaining legal life of the patent. True False Question  6 (1 point) Save   
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  In a business combination, a company assigns the cost, where possible, to the identifiable tangible and intangible assets, with the remainder recorded as goodwill.   True False Question  7 (1 point) Save      Internally generated goodwill should not be capitalized in the accounts.   True False Question  8 (1 point) Save      All intangibles are subject to periodic consideration of impairment with corresponding
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This note was uploaded on 11/16/2010 for the course ACCT acct 103 taught by Professor Rishard during the Spring '10 term at American River.

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ch12 - Internally created intangibles are recorded at cost....

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