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Result in future benefits
Expensed over current and/or future years
Question 2. (TCO C) Which intangible assets are amortized?
Limited Life
Indefinite Life
Question 3. (TCO C) Which of the following is often reported as an
extraordinary item?
Amortization expense
Impairment losses for intangible assets other than goodwill
Impairment losses on goodwill
None of the above
Question 4. (TCO D) Which of the following is a current liability?
A long-term debt maturing currently, which is to be paid with
cash in a sinking fund
A long-term debt maturing currently, which is to be retired
with proceeds from a new debt issue