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- Hw would you best define an intangible asset? A. Assets that dont impact the company's valuation B. Assets with physical traits, such as property or equipment C. Assets not recorded on the Balance Sheet, such as customer loyyalty or intellectual property D. Assets that were added to the company in the most recent annual report E. Assets that depreciate at an accelerated rateFASB ASC Topic 450, Contingencies, provides accounting guidance for A. the accounting treatment for intangible assets B. depreciable methods for property, plant and equipment C. events, or potential events, that create uncertainty for a company D. business combinations25 - What is the name given to assets with a physical structure, which are acquired for use in business activities and whose estimated useful life is more than one operating period?A) Assets subject to special consumptionB) Intangible Fixed AssetC) Tangible Fixed AssetD) Fixed AssetE) Financial fixed assets
- Which of the following groups would be classified as intangible assets for financial accounting andreporting purposes? a. long-term notes receivable, copyrights, goodwill, and trademarksb. patents, computer software costs, franchises, and trademarksc. computer software costs, research and development costs for internally developed patents,patents, and goodwilld. organization costs, goodwill, costs of employee training programs, and trademarksin horizontal analysis explain the results of total current asset and non current assets and what its impact of the results to the companyA manufacturing plant use for manufacturing a discontinued product is classified on the balance sheet as... Group of answer choices Inventory Other Assets Long-Term Investment Property, Plant, and Equipment
- 6. Situation in which company replaces existing assets with new assets is classified asA. replacement projects B. new projectsC. existing projects D. internal projectsIntangible Assets Product development costs represent a considerable expenditure for companies. They are either written off as expense or capitalized as assets. Required: a. Discuss the conceptual issues and the definition of an asset that may be applied in determining whether development expenditure should be treated as an expense or an asset.*Hdoes a company account for the disposal of an asset?how does it report gains and losses on its financial statments. *Distinction between addition and improvment and should be a company account for each
- Property, Plant, and Equipment (PPE) Assessment: Describe the company’s Property, Plant and Equipment section in the balance sheet relative to the total fixed assets of the company’s industry (use quantitative and qualitative summaries to support your description. Analyze the accounting treatment of Property, Plant and Equipment, including depreciation methods employed and any impairments recognized, and include a brief summary of the accounting standards and principles included in the decision (reference the Notes that inform your summary). Discuss the significance of Property, Plant And Equipment in the company’s operations and its impact on financial performance and reporting.Question 7 Equipment is classified in the statement of financial position as a current asset. property, plant, and equipment. an intangible asset. a long-term investment.Identify the accounts associated with the acquisitions and payments for long-lived assets cycle.