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Nhà của tôi  Các khoá học của tôi  KTQT1_B1402_MonAft_HKC2022  Topic 5. Intangible asset  Quizzes - TOPIC 5

Bắt đầu vào lúc Thứ năm, 13 Tháng 10 2022, 2:05 PM

Trạng thái Đã xong
Kết thúc lúc Thứ năm, 13 Tháng 10 2022, 2:11 PM
Thời gian thực hiện 6 phút 43 giây
Điểm 20,00/20,00
Điểm 10,00 trên 10,00 (100%)

Câu Hỏi 1 Hoàn thành Đạt điểm 1,00 trên 1,00

If a new patent is acquired through modification of an existing patent, the remaining book value of the
original patent may be amortized over the life of the new patent.

a. False
b. True
Câu Hỏi 2 Hoàn thành Đạt điểm 1,00 trên 1,00

In January of 2013, Vega Corporation purchased a patent at a cost of $200,000. Legal and filing fees of
$50,000 were paid to acquire the patent. The company estimated a 10-year useful life for the patent and
uses the straight-line amortization method for all intangible assets. In 2016, Vega spent $40,000 in legal fees
for an unsuccessful defense of the patent. The amount charged to income (expense and loss) in 2016
related to the patent should be:

Select one:
a. $65,000.
b. $25,000.
c. $215,000.
d. $40,000.

Câu Hỏi 3 Hoàn thành Đạt điểm 1,00 trên 1,00

Impairment testing is conducted annually for both limited–life and indefinite-life intangible assets.

a. False
b. True

Câu Hỏi 4 Hoàn thành Đạt điểm 1,00 trên 1,00

An exclusive 20-year right to manufacture a product or use a process is a: 

Select one:
a. Patent.
b. Franchise.
c. Copyright.
d. Trademark.
Câu Hỏi 5 Hoàn thành Đạt điểm 1,00 trên 1,00

Which of the following does not describe intangible assets?

a. They are classified as long-term assets.

b. They lack physical existence.
c. They are monetary assets.
d. They provide long-term benefits.

Câu Hỏi 6 Hoàn thành Đạt điểm 1,00 trên 1,00

Rich Corporation purchased a limited-life intangible asset for €270,000 on May 1, 2017. It has a useful life of
10 years. What total amount of amortization expense should have been recorded on the intangible asset by
December 31, 2019?

a. €81,000
b. €72,000
c. €54,000
d. €0

Câu Hỏi 7 Hoàn thành Đạt điểm 1,00 trên 1,00

Under International Financial Reporting Standards, research expenditures are:

Select one:
a. Expensed in the period they are determined to be unsuccessful.
b. Capitalized if certain criteria are met.
c. Expensed in the period incurred.
d. Expensed if unsuccessful, capitalized if successful.
Câu Hỏi 8 Hoàn thành Đạt điểm 1,00 trên 1,00

Mini Corp. acquires a patent from Maxi Co. in exchange for 2,500 shares of Mini Corp.’s €5 par value
ordinary shares and €85,000 cash. When the patent was initially issued to Maxi Co., Mini Corp.’s shares were
selling at €7.50 per share. When Mini Corp. acquired the patent, its shares were selling for €9 a share. Mini
Corp. should record the patent at what amount?

a. €103,750
b. €107,500
c. €85,000
d. €97,500

Câu Hỏi 9 Hoàn thành Đạt điểm 1,00 trên 1,00

The legal life of a patent is generally: 

Select one:
a. Twenty years.
b. Indefinite.
c. Forty years.
d. Life of the inventor plus fifty years.

Câu Hỏi 10 Hoàn thành Đạt điểm 1,00 trên 1,00

According to IAS 38 Intangible assets, which of the following statements about research and development
expenditure are correct? 1.Research expenditure, other than capital expenditure on research facilties,
should be recognised as an expense as incurred; 2.In deciding whether development expenditure qualifies
to be regconised as an asset, it is necessary to consider whether there will be adequate finance available to
complete the project; 3.Development expenditure regconised as an asset must be amortised over a period
not exceeding five years.

Select one:
a. 1, 2, 3
b. 2, 3
c. 1,3
d. 1, 2
Câu Hỏi 11 Hoàn thành Đạt điểm 1,00 trên 1,00

Depreciation, depletion, and amortization:

Select one:
a. All of the above are correct.
b. All generally utilize the same methods of cost allocation.
c. Are all handled the same in arriving at taxable income.
d. All refer to the process of allocating the cost of long-term assets used in the business over future periods.

Câu Hỏi 12 Hoàn thành Đạt điểm 1,00 trên 1,00

The intangible asset goodwill may be

a. capitalized either when purchased or created internally.

b. capitalized only when purchased.
c. capitalized only when created internally.
d. written off directly to retained earnings.

Câu Hỏi 13 Hoàn thành Đạt điểm 1,00 trên 1,00

According to IAS 38 Intangible assets, which of the following are intangible non-current assets in the
accounts of Ita Co? 1. A patent for a new glue purchased for $20,000 by Ita Co; 2. Development costs
capitalized in accordance with IAS 38; 3. A licence to broadcast a television series, purchased by Ita Co for
$150,000; 4. A state of the art factory purchased by Ita Co for $1.5 million.

Select one:
a. 2, 3 and 4

b. 1, 2 and 3

c. 2 and 4

d. 1 and 3
Câu Hỏi 14 Hoàn thành Đạt điểm 1,00 trên 1,00

Short Corporation purchased Hathaway Co. for $52,000,000. The fair value of all Hathaway's identifiable
tangible and intangible assets was $48,000,000. Short will amortize any goodwill over the maximum number
of years allowed. What is the annual amortization of goodwill for this acquisition?

Select one:
a. $400,000.
b. 0.
c. $100,000.
d. $200,000.

Câu Hỏi 15 Hoàn thành Đạt điểm 1,00 trên 1,00

Goodwill is:

Select one:
a. Only recorded by the seller of a business.
b. None of the above.
c. Amortized over the greater of its estimated life or forty years.
d. The excess of the fair value of a business over the fair value of all net identifiable assets.

Câu Hỏi 16 Hoàn thành Đạt điểm 1,00 trên 1,00

IFRS requires that start-up costs and initial operating losses during the early years be capitalized.

a. True
b. False
Câu Hỏi 17 Hoàn thành Đạt điểm 1,00 trên 1,00

Which of the following methods of amortization is normally used for intangible assets?

a. Units of production
b. Straight-line
c. Double-declining-balance
d. Sum-of-the-years'-digits

Câu Hỏi 18 Hoàn thành Đạt điểm 1,00 trên 1,00

Which of the following costs should be capitalized in the year incurred?

a. Costs to internally generate goodwill.

b. Costs to successfully defend a patent.
c. Organizational costs.
d. Development costs.

Câu Hỏi 19 Hoàn thành Đạt điểm 1,00 trên 1,00

Cromartie LTD. prepares its financial statements according to International Financial Reporting Standards.
During 2013 the company incurred $1,245,000 in research expenditures to develop a new product. An
additional $756,000 in development expenditures were incurred after technological and commercial
feasibility was established and after the future economic benefits were deemed probable. The project was
successfully completed and the new product was patented before the end of the 2013 fiscal year. Sale of the
product began in 2014. What amount of the above expenditures would Cromartie expense in its 2013
income statement?

Select one:
a. $756,000.
b. $1,245,000.
c. $2,001,000.
d. $0.
Câu Hỏi 20 Hoàn thành Đạt điểm 1,00 trên 1,00

Which of the following intangible assets should be shown as a separate item on the statement of financial
position?

a. Franchise
b. Patent
c. Goodwill
d. Trademark

◄ Topic 5 - Intangible assets (Eng) Chuyển tới...

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