Ch9 - Intangible Assets

Question 1

True or False

An intangible asset is an identifiable monetary asset
without physical substance.

Answer 1

False

Question 2

True or False

An intangible asset is an identifiable monetary asset
without physical substance.

Answer 2

True

Question 3

True or False

Research costs cannot be capitalised; they are recognized as
expense.

Answer 3

True

Question 4

True or False

If the separation of research and development (R&D) activities is
impossible, the costs are booked as expenses.

Answer 4

True

Question 5

True or False

Goodwill represents the value created by a company that is captured in
the intangible assets recognized on its balance sheet.

Answer 5

False

Question 6

True or False

Self-generated goodwill may be recognized, due to its economic
importance in today’s knowledge-based economy.

Answer 6

False