False aacsb diversity aacsb reflective thinking aicpa

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FALSE AACSB: Diversity AACSB: Reflective Thinking AICPA BB: Global Blooms: Understand Difficulty: 1 Easy Learning Objective: 11-10 Discuss the primary differences between U.S. GAAP and IFRS with respect to the utilization and impairment of property; plant; and equipment and intangible assets. Spiceland - Chapter 11 #17 Topic: Discuss the primary differences between U.S. GAAP and IFRS with respect to the utilization and impairment of PP & E and intangible assets 18. According to International Financial Reporting Standards, the impairment loss for an indefinite- life intangible asset other than goodwill is the difference between book value and the recoverable amount. TRUE AACSB: Diversity AACSB: Reflective Thinking AICPA BB: Global Blooms: Remember Difficulty: 1 Easy Learning Objective: 11-10 Discuss the primary differences between U.S. GAAP and IFRS with respect to the utilization and impairment of property; plant; and equipment and intangible assets. Spiceland - Chapter 11 #18 Topic: Discuss the primary differences between U.S. GAAP and IFRS with respect to the utilization and impairment of PP & E and intangible assets
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19. According to International Financial Reporting Standards, the costs to successfully defend an intangible right normally are capitalized and amortized. FALSE AACSB: Diversity AACSB: Reflective Thinking AICPA BB: Global Blooms: Understand Difficulty: 1 Easy Learning Objective: 11-10 Discuss the primary differences between U.S. GAAP and IFRS with respect to the utilization and impairment of property; plant; and equipment and intangible assets. Spiceland - Chapter 11 #19 Topic: Discuss the primary differences between U.S. GAAP and IFRS with respect to the utilization and impairment of PP & E and intangible assets 20. MACRS (modified accelerated cost recovery system) depreciation is equivalent to sum-of-the- years' digits depreciation. FALSE AACSB: Reflective Thinking AICPA BB: Critical Thinking Blooms: Remember Difficulty: 1 Easy Learning Objective: 11-Appendix 11A Comparison with Macrs (Tax Depreciation). Spiceland - Chapter 11 #20 Topic: Comparison with Macrs (Tax Depreciation) 21. By the replacement depreciation method, depreciation is recorded when assets are replaced. TRUE AACSB: Reflective Thinking AICPA BB: Critical Thinking Blooms: Remember Difficulty: 1 Easy Learning Objective: 11-Appendix 11B Retirement and Replacement Methods of Depreciation. Spiceland - Chapter 11 #21
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Topic: Retirement and Replacement Methods of Depreciation
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