QUESTION 20 Which of the following would all be classified as intangible assets? Deferred taxes, prepaid expenses, and patents Unearned revenue, patents, and copyrights Research and development expenditures, goodwill and copyrights O Goodwill, patents, and trademarks QUESTION 21 Which of the following statements is true? Most companies use accelerated depreciation for financial reporting purposes. The process of depreciation is a method of allocating the cost of long-lived assets. Land, buildings, and equipment should be depreciated over the period of time they benefit the firm. O Book value equal to the original cost of a fixed asset plus any accumulated depreciation to date. QUESTION 22 When analyzing accounts receivable and the allowance for doubtful accounts it is helpful to assess the relationship between the growth rates of sales, accounts receivable, and the allowance for doubtful accounts. True False QUESTION 23 The use of capital and/or operating lease financing can affect both the balance sheet and the income statement. True False QUESTION 24 Treasury stock represents assets held for safekeeping in a company's vaults O a company's own common stock that it has repurchased O retained earnings that have been appropriated to make equity investments investments in government securities