
Quiz on Intangible Assets
Authored by NUR ABDULLAH
Business
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31 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is required for an item to be recognized as an intangible asset?
It must meet the definition of intangible assets
It must be a tangible asset
It must be a financial asset
It must be a physical asset
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of an intangible asset?
Building
Land
Patent
Inventory
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the initial recognition criterion for intangible assets?
It must be probable that future economic benefits will flow to the entity
It must be a physical asset
It must be a tangible asset
It must be a financial asset
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the fair value of an asset at the acquisition date?
The market price of the asset
The estimated future cash flows
The historical cost of the asset
The cost of the asset
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT an example of an intangible asset?
Franchise
Customer base
Copyright
Trademark
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the treatment of research phase expenditures?
They are capitalized as assets
They are charged to expense when incurred
They are deferred to future periods
They are recognized as liabilities
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What must be satisfied for development phase expenditures to be recognized as intangible assets?
Technical feasibility and intention to use
Legal rights
Market value
Historical cost
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