16) In accounting for internally generated intangible assets, U. S. GAAP requires that
17) One factor that is not considered in determining the useful life of an intangible asset is
18) In 2015, Edwards Corporation incurred research and development costs as follows:
Materials and equipment $ 110,000 Personnel 130,000 Indirect costs 150,000 $ 390,000
These costs relate to a product that will be marketed in 2016. It is estimated that these costs will be recouped by December 31, 2018. The equipment has no alternative future use. What is the amount of research and development costs that should be expensed in 2015?
19) The carrying value of an intangible is
20) Under current accounting practice, intangible assets are classified as
21) The statement of changes in equity has columns for each of the following except: