____ 40. Which intangible assets are amortized over their useful life?

a.	trademarks
b.	goodwill
c.	patents
d.	all of the above

____ 41. Which of the following should be included in the acquisition cost of a piece of equipment?

a.	transportation costs
b.	installation costs
c.	testing costs prior to placing the equipment into production
d.	all of the above

____ 42. A pension plan which promises employees a fixed annual pension benefit, based on years of service and compensation, is called a(n)

a.	defined contribution plan
b.	defined benefit plan
c.	unfunded plan
d.	funded plan

____ 43. A capital expenditure results in a debit to

a.	an expense account
b.	a capital account
c.	a liability account
d.	an asset account

____ 44. During its first year of operations, a company granted employees vacation privileges and pension rights estimated at a cost of $20,500 and $15,000. The vacations are expected to be taken the next year and the pension rights are expected to be paid the next 25 years. What is the total cost of vacation pay and pension rights to be recognized in the 1st year?

a.	$29,500
b.	$35,500
c.	$23,500
d.	$20,500

____ 45. The journal entry a company uses to record partially funded pension rights for its salaried employees, at the end of the year is

a.	debit Salary Expense; credit Cash
b.	debit Pension Expense; credit Unfunded Pension Liability
c.	debit Pension Expense; credit Unfunded Pension Liability and Cash
d.	debit Pension Expense; credit Cash

____ 46. The journal entry a company uses to record the payment of an ordinary note is

a.	debit Cash; credit Notes Payable
b.	debit Accounts Payable; credit Cash
c.	debit Notes Payable and Interest Expense; credit Cash
d.	debit Notes Payable and Interest Receivable; credit Cash

____ 47. The process of transferring the cost of metal ores and other minerals removed from the earth to an expense account is called

a.	depletion
b.	deferral
c.	amortization
d.	depreciation