CFA Practice Question

There are 534 practice questions for this study session.

CFA Practice Question

Under U.S. GAAP, internally created identifiable intangibles ______

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.
Correct Answer: A

B would be true under IAS. D is for goodwill.

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
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