1-5
6-10
11-15
16-20
21-25
100
The cost allocation of equipment.
What is " Depreciation?"
100
What disclosures are required relative to interest costs incurred during the year?
What is "Disclose the total amount of interest costs incurred and the amount of interest capitalized. Interest expense is reported in the income statement."
100
Assets that lack physical substance and refer to the ownership of rights.
What are intangible long-lived, revenue-producing assets.
100
Consideration given less fair value of net identifiable assets.
What is "Goodwill?"
100
The allocation of cost of natural resources.
What is "Depletion?"
200
Protects against infringements on manufactured products.
What is "Patents?"
200
What disclosures are required relative to interest costs incurred during the year?
What is "Disclose the total amount of interest costs incurred and the amount of interest capitalized. Interest expense is reported in the income statement."
200
The cost includes the purchase price (less any discounts received from the seller); transportation costs paid by the buyer to transport the asset to the location in which it will be used; expenditures for installation, testing, and legal fees to establish title; and any other costs of bringing the asset to its condition and location for use.
What is included in the original cost of property, plant, and equipment and intangible assets acquired in an exchange transaction?
200
A measurement of efficiency in using depreciable assets.
What is "Fixed asset turnover ratio?"
200
Revenue recorded upon receipt.
What are " Donated assets?"
300
Price allocated in proportion to relative fair values.
What is "Lump-sum purchase?"
300
Why are software development costs treated differently than other types of R&D?
What is "The problem with attempting to capitalize R&D in most situations is the determination of a future benefit. With software development, a point of technological feasibility can be determined and a reasonable future benefit estimated. Also, it is easier to estimate the useful life of software than most other R&D situations because the life of software is relatively short."
300
The cost includes the acquisition costs for the use of land, the exploration and development costs incurred before production begins, and the restoration costs incurred during or at the end of extraction.
What are costs associated with the initial valuation of a developed natural resource?
300
Long-term assets that generally represent various types of rights.
What is "Intangible assets."
300
Capitalized between points of technological feasibility and date of product release.
What are "Software development costs?"
400
Includes parking lots, fences, and driveways, lighting and sprinkler systems.
What is "Land improvements?"
400
Exclusive right of protection given to the creator of a published work.
What is "Copyright?"
400
When is interest capitalized? Briefly describe how the amount to be capitalized is computed.
What is "Interest is capitalized during the construction period for self-constructed assets and for assets constructed as discrete projects for sale or lease, but not for items that are routinely manufactured."
400
Costs to bring back an asset to its original condition.
What are " Restoration costs?"
400
Costs to bring back an asset to its original condition.
What is "Restoration costs?"
500
Measured at fair value and recognized as a liability.
What are "Asset retirement obligations?"
500
The basic principle is to value assets acquired using fair value of consideration given.
What is "Nonmonetary exchange?"
500
Briefly explain how R&D is reported in financial statements.
What is "Most R&D costs are expensed in the periods incurred, and GAAP requires that total R&D expense incurred must be disclosed in a note or as a separate line item. R&D performed for others would be recorded as inventory and eventually would be included in cost of goods sold.'
500
The allocation of cost for intangible assets.
What is "Amortization?"
500
Point in time to begin capitalization of software development costs.
What is "Technological feasibility?"
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