When a new company is acquired, which of these intangible assets, unrecorded on the acquired company's books, might be recorded in addition to goodwill?
a. A brand name.
b. A patent.
c. A customer list.
d. All of the above.
Answer: d. All of the above.
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Madison, Inc. had the following balances and transactions during 2017
Beginning Inventory 40 units at $72 June 10 Purchased 120 units at $76 December 30 Sold 113 units December 31 Replacement cost $79 The company maintains its records of inventory on a perpetual basis using the last-in, first-out inventory costing method. Calculate the amount of ending Merchandise Inventory at December 31, 2017 using the lower-of-cost-or-market rule. (Round any intermediate calculations two decimal places, and your final answer to the nearest dollar.) A) $2,880 B) $3,412 C) $3,713 D) $3,572
Which of the following statements is (are) true regarding investment returns and the underwriting cycle?
I. Investment returns have no impact upon the underwriting cycle. II. Investment returns can lengthen the duration of a soft market by offsetting underwriting losses. A) I only B) II only C) both I and II D) neither I nor II