Adaptation of an existing capability to a particular requirement or customerquot;s need. 12 – 16 Test Bank for Intermediate Accounting, Thirteenth…

A. Adaptation of an existing capability to a particular requirement or customer”s need. 12 – 16 Test Bank for Intermediate Accounting, Thirteenth Edition 64. Which of the following would not be considered an R & D activity? A. Adaptation of an existing capability to a particular requirement or customer”s need. B. Searching for applications of new research findings. C. Laboratory research aimed at discovery of new knowledge. D. Conceptual formulation and design of possible product or process alternatives. 65. Which of the following intangible assets should be shown as a separate item on the balance sheet? A. Goodwill b. Franchise c. Patent d. Trademark 66. The notes to the financial statements should include information about acquired intangible assets, and aggregate amortization expense for how many succeeding years? A. 6 b. 5 c. 4 d. 3 67. Which of the following should be reported under the “Other Expenses and Losses” section of the income statement? A. Goodwill impairment lo