Intangible assets are often subdivided based on all of the following characteristics except:

Expected period of benefit.

Identifiability.

Manner of acquisition.

All of the options are characteristics.

All of the following are specifically identifiable intangibles except:

Trademarks

Copyrights.

Goodwill

Patents

Intangible assets that have a finite life are amortized over a period not to exceed:

20 years.

Their legal life.

40 years.

Their useful life.

The cost of a patent should be amortized over its:

The number of years that benefits are expected to be received.

50 years.

The life of the creator plus 40 years.

The life of the creator plus 50 years.

Goodwill is the excess of cost over:

Book value of the identifiable net assets acquired.

Fair value of the tangible net assets acquired.

Fair value of the identifiable net assets acquired.

Book value of the tangible net assets acquired.

An impairment of an identifiable intangible asset arises when its carrying amount exceeds the:

Asset's cost.

Present value of the expected future net cash flows.

Expected future net cash flows.

Asset's fair value.

An impairment of a goodwill arises when its carrying amount exceeds the:

Expected future net cash flows.

Reporting unit's book value.

Present value of expected future net cash flows.

Reporting unit's assets' fair value.

Research costs:

Are usually small in dollar amount.

Include periodic alternatives to existing products.

Are intangible assets.

Should be charged to expense when incurred.

All of the following expenditures are classified as research and development except:

Salaries of research staff designing a new product.

Acquisition of R & D equipment for use on a current project only.

Engineering costs incurred to advance a new product to full production stage.

Costs of marketing research to promote a new product.

Development costs may be capitalized if:

The entity has sufficient resources to complete the project.

All of the criteria must be met.

They relate to a clearly identifiable product.

The product is technically feasible.

The presentation of intangible assets in the financial statements:

Should include disclosure of the amount of amortization in the period.

Includes R & D costs.

Involves the use of a contra-asset account.

Is the same as the presentation of property, plant, and equipment.