10

1 point

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Question at position 10

Once technological or commercial feasibility is established it means that all the spend during the development phase will be capitalized.

Once technological or commercial feasibility is established it means that all the spend during the development phase will be capitalized.

True

False

Question at position 11

11

1 point

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Question at position 11

1. Klee Company reported the following data at year-end:

Franchise	P1,000,000
Computer software	1,500,000
Deferred charges	100,000
Patent	2,500,000
Customer list	500,000
Copyright	700,000
Deposit with advertising agency to promote goodwill	400,000
Bond sinking fund	1,300,000
Goodwill	4,000,000
Trademark	900,000
Research and development cost	2,000,000

What total amount should be reported as intangible assets?

1. Klee Company reported the following data at year-end:

Franchise	P1,000,000
Computer software	1,500,000
Deferred charges	100,000
Patent	2,500,000
Customer list	500,000
Copyright	700,000
Deposit with advertising agency to promote goodwill	400,000
Bond sinking fund	1,300,000
Goodwill	4,000,000
Trademark	900,000
Research and development cost	2,000,000

What total amount should be reported as intangible assets?

P11,100,000

P13,100,000

P11,500,000

P10,600,000

Question at position 12

12

1 point

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Question at position 12

1. When property is acquired by issuing equity shares, which of the following is the best basis for establishing the cost of asset?

1. When property is acquired by issuing equity shares, which of the following is the best basis for establishing the cost of asset?

Fair value of the asset received

Historical cost of the asset to the seller

Historical cost of a similar asset

Fair value of the shares issued