Here is the second quiz. I have it here attached. I believe the formatting is better aswell.

Thank you!

QUESTION 1 The cost of a copyright should: a be amortized over a period not to exceed the life of the author plus 50 years . b be amortized over a period not to exceed 20 years, unless the right is renewed . c not be amortized and the cost should be capitalized as an asset with indefinite life. . d be amortized over a period not to exceed its economic life . 1 points QUESTION 2 Trademarks or trade names a must be renewed every 40 years . b can be considered intangibles with indefinite lives . c are developed internally and thus should not have any related costs capitalized and . amortized d are synonymous with internally developed goodwill . 1 points QUESTION 3 The cost of an internally developed unidentifiable intangible is expensed as incurred. Accordingly, which one of the following costs would be expensed in the year it was incurred? a . legal cost of obtaining a patent b cost of improvements with a three-year life made to an asset that is being leased by the . company for a five-year period c deferred charges . d cost incurred to train management-level employees . 1 points QUESTION 4 Whic Which of the following groups would be classified as intangible assets for financial accounting and reporting purposes? a long-term notes receivable, copyrights, goodwill, and trademarks . b patents, computer software development costs (after preliminary costs), franchises, and . trademarks c computer software costs, research and development costs for internally developed . patents, patents, and goodwill d organization costs, goodwill, costs of employee training programs, and trademarks . 1 points QUESTION 5 Whi Which of the following relationships between category of intangibles and amortization is not true? Category Amortize a. Intangible Assets With a Finite Life Yes b. Intangible Assets with an Indefinite Life No c. Goodwill Yes d. Internally Developed Unidentifiable Intangibles No a . b . c. d . 1 points QUESTION 6 The Ross Company made the following expenditures for research and development early in 2004: $20,000 for materials; $30,000 for contract services; $40,000 for employee salaries; and $300,000 for a building with an expected life of 20 years to be used for current and future research projects. Ross uses straight-line depreciation. The company allocated $5,000 in overhead to research and development. What is Ross' research and development expense for the current year? a $395,0 . 00 b $105,0 . 00 c $95,00 . 0 d $110,0 . 00 1 points QUESTION 7 White Wing Co. incurred the following costs during the current year in the development and production of a new product: $ 20,000 in legal fees to obtain a patent $250,000 in the design, construction, and testing of a preproduction prototype and model $200,000 in engineering activity required to advance the design of the product to the point that it was ready for manufacture $ 15,000 in trouble-shooting in connection with breakdowns during commercial production How much should be included in R&D expense for the current year? a $235,0 . 00 b $450,0 . 00 c $470,0 . 00 d $485,0 . 00 1 points QUESTION 8 Which of the following accounting principles or conventions is violated by the FASB Statement No. 2 requirement to expense R&D costs immediately? a historical cost . principle b comparability . c conservatism . d matching principle . 1 points QUESTION 9 Which of the following is an intangible asset that is not typically amortized? a patent . b copyrig . ht c franchis . e d . tradem ark 1 points QUESTION 10 The Applet Company registered a patent on January 1, 2004. Bandana Company purchased the patent from Bandana for $300,000 on January 1, 2009, and began to amortize the patent over its remaining legal life. In early 2010, Bandana determined that the patent's economic benefits would last only until the end of 2013. What amount should Bandana record for patent amortization in 2010? a $15,0 . 00 b . $20,0 00 c . $40,0 00 d $70,0 . 00 1 points QUESTION 11 In January 2004, the Kiss Corporation purchased a patent for $192,000 from Hug Company that had a remaining legal life of 14 years. Kiss estimated that the remaining economic life would be eight years. In January 2008, the company incurred $30,000 in legal costs to defend the patent from an infringement. Kiss's lawyers were successful and the remaining years of benefit from the patent were estimated to be six years. The patent amortization expense for 2008 is a $16,0 . 00 b $21,0 . 00 c $22,2 . 00 d $27,8 . 57 1 points QUESTION 12 In 1960 Catalog Company had acquired copyrights for $750,000 on several literary works from some obscure 18th century authors. These copyrights were fully amortized by 2007. In early 2007, a new anthropological discovery made these copyrights worth $2,500,000. As a result, Catalog should report which of the following in its financial statements for 2007: a $2,500,000 as a holding gain . b $2,500,000 as a component of continuing operations. . c $2,500,000 as an extraordinary item . d . Nothing 1 points QUESTION 13 Rapunzel acquired a franchise to operate a beauty salon from Beautiful Hair, Inc., for $125,000. She incurred an additional $2,000 in legal costs to negotiate the terms with the franchisor. In ten years, the franchise contract will be renegotiated. The current contract also states that there will be a $1,000 annual fee plus a one percent charge based on the store's annual revenue. The franchise cost that should be capitalized is a $125,0 . 00 b $127,0 . 00 c $137,0 . 00 d $175,0 . 00 1 points QUESTION 14 The determination of impairment losses differs under IFRS versus GAAP in that A. B. C. D. only GAAP permits a value-in-use estimate only IFRS employs a disposal approach as a measure of fair value only GAAP compares the fair value to cost only IFRS permits a value-in-use estimate 1 points QUESTION 15 Impairment losses may be reversed under A. GAAP IFRS Yes Yes GAAP IFRS Yes No GAAP IFRS No Yes GAAP IFRS No No B. C. D