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please answer all questions thank 34. The exclusive right to manufacture a product or use a process is a: A. Patent. B. Copyright C. Trademark
please answer all questions thank
34. The exclusive right to manufacture a product or use a process is a: A. Patent. B. Copyright C. Trademark D. Franchise E. Goodwill 35. If the City of El Paso donates land to Walmart to entice Walmart to build a new shopping center, Walmart would record the value of the land on its balance sheet at: A. Zero. B. What the City of El Paso initially paid for the land. C. The fair value of the land. D. None of the above. 36. Under US GAAP, research and development (R&D) costs: A. Generally relate to activities that occur prior to the start of production. B. May be expensed or capitalized, at the option of the reporting entity. C. Must be capitalized and amortized. D. None of the above are correct. 37. If an intangible asset has a legal life of eight years but contractually the usefulness is limited to six years, a company will amortize the cost over: A. Eight years. B. Six years C. Seven years. D. Either six or eight years is allowed. E. None of the above are correct. 38. A change in the estimated service life of equipment: A. Is handled prospectively. B. Requires retroactive restatement of prior year's financial statements, C. Requires a prior period adjustment. D. Does not require disclosure on the financial statements E. None of the above
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