Multiple choise and True/False
Hey there,
I was wondering if anyone could help me with the following questions. I would really appreciate your help :) .
Multiple choice:
A company obtained a patent for a drug it developed. The amount capitalized in asocciation with the drug patent will include:
a. Only the cost of developing the drug.
b. Only the cost of filing for a patent.
c. The cost of developing the drug and filing for a patent.
d. Neither the cost of developing the drug and filing for a patent.
I'm confused between b and c.
True/False:
1. It is assumed that all property,plant and equipment will be consumed over time.
2. an estimate of un-collectable accounts is generally based on the company's historical experience rather than on known un-collectable accounts.
3. non-current assests include all types of property, plant and equipment as well as intangible assets without non-current prepaid.
I think it is False, True and False. I would like to confirm it with someone though.
