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35. Purchased goodwill should a. be written off as soon as possible against retained earnings. b. be written off as soon as possible as an
35. Purchased goodwill should a. be written off as soon as possible against retained earnings. b. be written off as soon as possible as an extraordinary item. C. be written off by systematic charges as a regular operating expense over the period benefited. d. not be amortized. 39. The carrying amount of an intangible is . a. the fair market 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. 42. How should research and development costs be accounted for, according to a Financial Accounting Standards Board Statement? a. Must be capitalized when incurred and then amortized over their estimated useful lives. b. Must be expensed in the period incurred. C. May be either capitalized or expensed when incurred, depending upon the materiality of the amounts involved. d. Must be expensed in the period incurred unless it can be clearly demonstrated that the expenditure will have alternative future uses or unless contractually reimbursable. : 46. The costs of organizing a corporation include legal fees, fees paid to the state of incorporation, fees paid to promoters, and the costs of meetings for organizing the promoters. These costs are said to benefit the corporation for the entity's entire life. These costs should be a. capitalized and never amortized. b. capitalized and amortized over 40 years. C. capitalized and amortized over 5 years. d. expensed as incurred
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