Participation Questions - Chapter 7

  • Due Nov 1, 2015 at 11:59pm
  • Points 7
  • Questions 5
  • Available Oct 26, 2015 at 1pm - Nov 1, 2015 at 11:59pm
  • Time Limit None

Instructions

Questions:

  • Nike was used as an example for the intangible asset of Trademarks.
      • True or False
  • What company committed fraud by capitalizing $11 billion of costs instead of properly expensing them?
      • Target, WorldCom, JC Penney, Albright Mobile Communications
  • Name a type of intangible asset.
      • Equipment, Building, Land, Goodwill
  • Tangible property is depreciated each year in order to comply with the matching principle.
      • True or False
  • The double declining balance method of calculating depreciation expense forces companies to pay higher income taxes in the earlier years of the assets life.
      • True or False
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