51.Long-term investments include all of the following except
b.cash surrender value of life insurance policies.
c.a building held for rental activity.
52.Property, plant, and equipment section of the balance sheet includes all of the following except
a.construction in progress.
53.Intangible assets include all of the following except
54.What is the term for the systematic allocation of the costs of intangible assets to expense?
55.Which of the following would typically be recorded as an intangible asset with a finite useful life?
56.Which of the following is not an intangible asset?
b.Deferred tax asset
57.The systematic allocation of the costs of natural assets to expense is called
58.The adjusted historical cost of fixed assets, calculated as historical cost minus depreciation, is called
b.net book value.
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
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