Quiz 9
Quiz 09
Submission View
Question Set
Question 1
0.5 / 0.5 points
Goodwill
is only recorded when generated internally.
can be subdivided and sold in parts.
can only be identified with the business as a whole.
can be defined as normal earnings less accumulated amortization.
Question 2
0.5 / 0.5 points
All of the following are intangible assets except
land.
patents.
copyrights.
leaseholds.
Question 3
0.5 / 0.5 points
The cost of a long-lived asset (except land) is expensed
when it is paid for.
as the asset benefits the company.
in the period in which it is acquired.
in the period in which it is disposed of.
Question 4
0.5 / 0.5 points
If sale of a plant asset occurs during the year, depreciation is
not recorded for the year.
recorded for the whole year.
recorded for the fraction of the year to the date of the disposal.
Question 5
0.5 / 0.5 points
Land improvements should be depreciated over the useful life of the
land.
buildings on the land.
land or land improvements, whichever is longer.
land improvements.
Question 6
0 / 0.5 points
Book value is
Cost minus accumulated depreciation.
Cost minus salvage value.
An estimate of the asset’s value at the end of its useful life.
Question 7
0.5 / 0.5 points
Trademarks are generally shown on the balance sheet under
Intangibles.
Investments.
Property, Plant, and Equipment.
Current Assets.
Question 8
0 / 0.5 points
The Depreciation Expense on the Income Statement shows
the amount of depreciation for the current period.
the amount of depreciation for all previous periods.
the amount of depreciation for the current period and all previous periods.
the asset cost minus accumulated depreciation.
Question 9
0.5 / 0.5 points
The Asset Turnover Ratio shows
the company’s ability to use its assets in profitable ways.
the ability to pay all liabilities with all assets.
the dollars of net sales generated with each dollar of total assets.
the
Submission View
Question Set
Question 1
0.5 / 0.5 points
Goodwill
is only recorded when generated internally.
can be subdivided and sold in parts.
can only be identified with the business as a whole.
can be defined as normal earnings less accumulated amortization.
Question 2
0.5 / 0.5 points
All of the following are intangible assets except
land.
patents.
copyrights.
leaseholds.
Question 3
0.5 / 0.5 points
The cost of a long-lived asset (except land) is expensed
when it is paid for.
as the asset benefits the company.
in the period in which it is acquired.
in the period in which it is disposed of.
Question 4
0.5 / 0.5 points
If sale of a plant asset occurs during the year, depreciation is
not recorded for the year.
recorded for the whole year.
recorded for the fraction of the year to the date of the disposal.
Question 5
0.5 / 0.5 points
Land improvements should be depreciated over the useful life of the
land.
buildings on the land.
land or land improvements, whichever is longer.
land improvements.
Question 6
0 / 0.5 points
Book value is
Cost minus accumulated depreciation.
Cost minus salvage value.
An estimate of the asset’s value at the end of its useful life.
Question 7
0.5 / 0.5 points
Trademarks are generally shown on the balance sheet under
Intangibles.
Investments.
Property, Plant, and Equipment.
Current Assets.
Question 8
0 / 0.5 points
The Depreciation Expense on the Income Statement shows
the amount of depreciation for the current period.
the amount of depreciation for all previous periods.
the amount of depreciation for the current period and all previous periods.
the asset cost minus accumulated depreciation.
Question 9
0.5 / 0.5 points
The Asset Turnover Ratio shows
the company’s ability to use its assets in profitable ways.
the ability to pay all liabilities with all assets.
the dollars of net sales generated with each dollar of total assets.
the