51 long term investments include all of the following except a sinking funds b cash 4313952

51 long term investments include all of the following except a sinking funds b cash 4313952

51.Long-term investments include all of the following except

a.sinking funds.

b.cash surrender value of life insurance policies.

c.a building held for rental activity.

d.bonds payable.

52.Property, plant, and equipment section of the balance sheet includes all of the following except

a.construction in progress.

b.natural resources.

c.intangible assets

d.leasehold improvements.

53.Intangible assets include all of the following except

a.natural resources.

b.licenses.

c.goodwill.

d.Trademarks

54.What is the term for the systematic allocation of the costs of intangible assets to expense?

a.Amortization

b.Depreciation

c.Impairment

d.Depletion

55.Which of the following would typically be recorded as an intangible asset with a finite useful life?

a.Franchises

b.Trademarks

c.Brand name

d.Goodwill

56.Which of the following is not an intangible asset?

a.Computer software

b.Deferred tax asset

c.Brand name

d.Franchise

57.The systematic allocation of the costs of natural assets to expense is called

a.amortization.

b.depreciation.

c.impairment.

d.depletion.

58.The adjusted historical cost of fixed assets, calculated as historical cost minus depreciation, is called

a.amortization.

b.net book value.

c.impairment.

d.depreciable cost.

59.Which of the following is amortized over its useful life and reported at adjusted historical cost?

a.Intangible asset with finite useful lives

b.Intangible asset with indefinite useful lives

c.Goodwill

d.Property, plant, and equipment

60.Current liabilities are defined as obligations that will be paid

a.by refinancing through issuing new long-term liabilities

b.by using existing resources properly classified as current assets

c.out of a fund classified as a long-term investment

d.by using existing resources, regardless of their classification

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