Question

airment wheneve impairment only y has been established - 3500 in interest cas e u m al software. R18 The Curial mal entry to record its internal use som mortized and reviewed for impaim LO 124 Identity which of the following are expensed as incurred, (2) an coverable, or (3) reviewed for impa consorcicumstances indicate that the book value may not be recover patient e trademark licenses, granted in perpetuity E computer software costs (after technological feasibility hasta g research and development (R&D) d. copyright 1 2016 A.

Answer 1

The items are identified as follows:

a) Patents = (3) reviewed for impairment only.

b)Licenses, granted in perpetuity = (2) amortized and reviewed for the impairment whenever events or circumstances indicate that the book value may not be recoverable

c)Goodwill = (2) amortized and reviewed for the impairment whenever events or circumstances indicate that the book value may not be recoverable

d)Copyright = (3) reviewed for impairment only.

e)Trademark = (3) reviewed for impairment only.

f)Computer software costs(after technological feasibility has be established) = (2) amortized and reviewed for the impairment whenever events or circumstances indicate that the book value may not be recoverable

g) Research and development(R & D) = (1) Expensed as incurred