1 We expense internally generated intangible assets, such as research and develo

Question

1 We expense internally generated intangible assets, such as research and development and advertising costs, as we incur them 1. True 2 . False ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 2. Which of the following are included in an employer's payroll tax expense? A Employer portion of FICA taxes. B Federal unemployment taxes. C State unemployment taxes. D All of the other answers are correct ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 3 When bonds are issued at a premium and the effective interest method is used for amortization, at each subsequent interest payment date, the cash paid is: A Less than the interest expense. B Equal to the interest expense. C Greater than the interest expense. D More than if the bonds had been sold at a discount.

Explanation / Answer

1. TrueC State unemployment taxesD More than if the bonds had been sold at a discount

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