Long-lived assets with an indefinite life include:
a. trade names.
b. trademarks.
c. certain renewable licenses.
d. goodwill arising from a business combination.
e. all of the above.
E
You might also like to view...
Project managers play a key role in developing high-performance project teams. Which of the following is NOT a contributing factor to this role?
A. Manage conflict B. Recruit team members C. Manage a reward system D. Report progress to top management E. Conduct project meetings
Two hundred fifty units of Component X are scheduled for production. Each unit of X requires labor standard time of 2 hr per unit and machine standard time of 1 hr per unit. The standard labor hours of load requirements are ______.
A. 250 B. 500 C. 400 D. 350
Jose visited a garage sale and found a baseball card collection which he believed was worth over $1,000. He bought the collection for $50.00 from Wanda. Later Jose discovered the collection was essentially worthless and demands his money back from Wanda. Must Wanda refund Jose's money?
A) No, the contract is enforceable because Jose was operating under a unilateral mistake and Wanda did not know the value of the cards. B) Yes, the contract is enforceable because Jose made a unilateral mistake of fact. C) Yes, the contract is enforceable because of mutual mistake of fact. D) No, the contract is enforceable because of mutual mistake of value.
What is not a correct statement concerning promoters?
A) Promoters are generally active before the corporation is formed. B) Two (2 ) or more promoters are required to form a corporation. C) Promoters are fiduciaries with respect to the corporation and its shareholders. D) Promoters are liable for any torts that they commit while promoting the corporation.