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Basic Question 4 of 6
Under U.S. GAAP, internally created identifiable intangibles ______
B. can be capitalized for costs incurred in the development stage if certain criteria are met.
C. can be capitalized for costs incurred in the research stage if certain criteria are met.
D. should be tested annually for impairment.
A. must be expensed.
B. can be capitalized for costs incurred in the development stage if certain criteria are met.
C. can be capitalized for costs incurred in the research stage if certain criteria are met.
D. should be tested annually for impairment.
User Contributed Comments 6
| User | Comment |
|---|---|
| Bududeen | tricky |
| wundac | Got me |
| mrushdi | IAS, more concern about the balance sheet accuracy. US GAAP more concern about the Income Statement. |
| papajeff | dirty |
| johntan1979 | Goodwill is unidentifiable intangible asset |
| Kevdharr | Fooled me |
You have a wonderful website and definitely should take some credit for your members' outstanding grades.
Colin Sampaleanu
Learning Outcome Statements
compare the financial reporting of the following types of intangible assets: purchased, internally developed, and acquired in a business combination
CFA® 2025 Level I Curriculum, Volume 2, Module 7.