ACC304FINAL[2] - Time Remaining:

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Time Remaining: 1.  Costs incurred internally to create intangibles are (Points :23)        capitalized.         capitalized if they have an indefinite life.         expensed as incurred.         expensed only if they have a limited life.  2.  The cost of an intangible asset includes all of the following except (Points :23)        purchase price.         legal fees.         other incidental expenses.         all of these are included.  3.  Which of the following is true about accounts payable? I Accounts payable should not be reported at their present value. II When accounts payable are recorded at the net amount, a Purchase Discounts  account will be used. III When accounts payable are recorded at the gross amount, a Purchase Discounts Lost  account will be used. (Points :23)        III         I         Both II and III are true 
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This note was uploaded on 06/13/2011 for the course BUS 105 taught by Professor Smith during the Spring '07 term at Strayer.

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ACC304FINAL[2] - Time Remaining:

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