Which of the following intangible assets should not be amortized?
a. Copyrights
b. Customer lists
c. Perpetual franchises
d. All of these intangible assets should be amortized.
Ans: c. Perpetual franchises
Business
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Detection risk differs from both control risk and inherent risk in that detection risk
A. Exists independently of the financial statement audit. B. Can be changed at the auditor's discretion. C. Arises from risk factors relating to fraud. D. Should be assessed in nonquantitative terms.
Business
Which term refers to all of the activities involved in buying or acquiring the materials used by the organization, such as raw materials needed to make products?
a. Material Planning b. Procurement Process c. Production Process d. Fulfillment Process e. Lifecycle Data Management
Business