Reference no: EM132698774

Problem 1: An active market is a market in which all the following conditions exist, except

a. the items traded in the market are homogeneous
b. willing buyers and sellers can normally be found at any time
c. prices are available to the public
d. the price is most advantageous

Problem 2: It is the systematic allocation of the depreciable amount of an intangible asset over its useful life.

a. Cost allocation concept
b. Impairment
c. Depreciation
d. Amortization

Problem 3: It refers to the application of research findings or other knowledge to a plan or design for the production of new or substantially improved materials, devices, products, processes, systems, or services before the start of commercial production or use.

a. Research
b. Development
c. R & D activities
d. Internal generation

Problem 4: Goodwill is considered an unidentifiable asset because

a. it cannot be sold separately and therefore not separable.
b. it does not arise from contractual rights.
c. it has physical substance.
d. a and b