ACC 304 help A Guide to career/Snaptutorial ACC 304 help A Guide to career/Snaptutorial | Page 123

c No Yes
d. No No
51.
The carrying amount of an intangible is
a. the fair value of the asset at a balance sheet date.
b. the asset's acquisition cost less the total related amortization
recorded to date.
c. equal to the balance of the related accumulated amortization
account.
d. the assessed value of the asset for intangible tax purposes.
52. Which of the following research and development related
costs should be capitalized and depreciated over current and future
periods?
a. Research and development general laboratory building which can
be put to alternative uses in the future
b. Inventory used for a specific research project
c. Administrative salaries allocated to research and development
d. Research findings purchased from another company to aid a
particular research project currently in process
53. Which of the following principles best describes the current
method of accounting for research and development costs?
a. Associating cause and effect