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ACC 304 Week 11 Final Exam
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ACC 304 Week 11 Final Exam


TRUE-FALSE—Conceptual
Answer    No.    Description
        1.    Characteristics of intangible assets.
        2.    Internally created intangibles.
        3.    Recording internally generated intangibles.
        4.    Amortization of limited-life intangible assets.
        5.    Amortization of intangible assets.
        6.    Amortizing limited-life intangibles.
        7.    Accounting for a customer list.
        8.    Amortization of patents.
        9.    Modification of an existing patent.
        10.    Basic concept of goodwill.
        11.    Internally generated goodwill.
        12.    Recording internally generated goodwill.
        13.    Impairment of intangibles.
        14.    Recognition of impairment loss.
        15.    Recovery of impairment loss.
        16.    Impairment of intangibles.
        17.    Example of research and development costs.
        18.    Capitalizing research and development costs.
        19.    Recording research and development costs.
        20.    Reporting intangible assets.

MULTIPLE CHOICE—Conceptual
Answer    No.    Description
    b    21    Characteristics of intangible assets.
    c    22    Characteristics of intangible assets.
    a    23    Characteristics of intangible assets.
    c    24.    Accounting for internally-

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