Question
The following is a list of items that could be included in the intangible assets section of the balance sheet. (a) Indicate which items on
The following is a list of items that could be included in the intangible assets section of the balance sheet. (a) Indicate which items on the list below would generally be reported as intangible assets in the balance sheet.
Reported as | ||||
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1. | Investment in a subsidiary company. | select between Intangible Asset and Not an Intangible AssetIntangible AssetNot an Intangible Asset Intangible AssetNot an Intangible Asset | ||
2. | Timberland. | select between Intangible Asset and Not an Intangible AssetNot an Intangible AssetIntangible Asset Intangible AssetNot an Intangible Asset | ||
3. | Cost of engineering activity required to advance the design of a product to the manufacturing stage. | select between Intangible Asset and Not an Intangible AssetNot an Intangible AssetIntangible Asset Intangible AssetNot an Intangible Asset | ||
4. | Lease prepayment (6 months rent paid in advance). | select between Intangible Asset and Not an Intangible AssetNot an Intangible AssetIntangible Asset Intangible AssetNot an Intangible Asset | ||
5. | Cost of equipment obtained. | select between Intangible Asset and Not an Intangible AssetNot an Intangible AssetIntangible Asset Intangible AssetNot an Intangible Asset | ||
6. | Cost of searching for applications of new research findings. | select between Intangible Asset and Not an Intangible AssetIntangible AssetNot an Intangible Asset Intangible AssetNot an Intangible Asset | ||
7. | Costs incurred in the formation of a corporation. | select between Intangible Asset and Not an Intangible AssetIntangible AssetNot an Intangible Asset Intangible AssetNot an Intangible Asset | ||
8. | Operating losses incurred in the start-up of a business. | select between Intangible Asset and Not an Intangible AssetIntangible AssetNot an Intangible Asset Intangible AssetNot an Intangible Asset | ||
9. | Training costs incurred in start-up of new operation. | select between Intangible Asset and Not an Intangible AssetIntangible AssetNot an Intangible Asset Intangible AssetNot an Intangible Asset | ||
10. | Purchase cost of a franchise. | select between Intangible Asset and Not an Intangible AssetIntangible AssetNot an Intangible Asset Intangible AssetNot an Intangible Asset | ||
11. | Goodwill generated internally. | select between Intangible Asset and Not an Intangible AssetIntangible AssetNot an Intangible Asset Intangible AssetNot an Intangible Asset | ||
12. | Cost of testing in search for product alternatives. | select between Intangible Asset and Not an Intangible AssetIntangible AssetNot an Intangible Asset Intangible AssetNot an Intangible Asset | ||
13. | Goodwill acquired in the purchase of a business. | select between Intangible Asset and Not an Intangible AssetNot an Intangible AssetIntangible Asset Intangible AssetNot an Intangible Asset | ||
14. | Cost of developing a patent. | select between Intangible Asset and Not an Intangible AssetIntangible AssetNot an Intangible Asset Intangible AssetNot an Intangible Asset | ||
15. | Cost of purchasing a patent from an inventor. | select between Intangible Asset and Not an Intangible AssetNot an Intangible AssetIntangible Asset Intangible AssetNot an Intangible Asset | ||
16. | Legal costs incurred in securing a patent. | select between Intangible Asset and Not an Intangible AssetNot an Intangible AssetIntangible Asset Intangible AssetNot an Intangible Asset | ||
17. | Unrecovered costs of a successful legal suit to protect the patent. | select between Intangible Asset and Not an Intangible AssetNot an Intangible AssetIntangible Asset Intangible AssetNot an Intangible Asset | ||
18. | Cost of conceptual formulation of possible product alternatives. | select between Intangible Asset and Not an Intangible AssetIntangible AssetNot an Intangible Asset Intangible AssetNot an Intangible Asset | ||
19. | Cost of purchasing a copyright. | select between Intangible Asset and Not an Intangible AssetIntangible AssetNot an Intangible Asset Intangible AssetNot an Intangible Asset | ||
20. | Research and development costs. | select between Intangible Asset and Not an Intangible AssetIntangible AssetNot an Intangible Asset Intangible AssetNot an Intangible Asset | ||
21. | Long-term receivables. | select between Intangible Asset and Not an Intangible AssetNot an Intangible AssetIntangible Asset Intangible AssetNot an Intangible Asset | ||
22. | Cost of developing a trademark. | select between Intangible Asset and Not an Intangible AssetNot an Intangible AssetIntangible Asset Intangible AssetNot an Intangible Asset | ||
23. | Cost of purchasing a trademark. | select between Intangible Asset and Not an Intangible Asset |
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