Finite-life intangible assets are reported on the balance sheet at their ________

A) net realizable value
B) replacement cost
C) acquisition cost
D) carrying value

Answer: D

Business

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In an ________ contract, two parties to a contract (the promisor and promisee), either by words, writing, or actions, intend to bring benefits to a third party by virtue of an enforceable contract

A) incidental guarantor B) intended guarantor C) incidental beneficiary D) intended beneficiary

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The maximum penalty for securities fraud under the Sarbanes-Oxley Act is ________ years in prison

A) 10 B) 25 C) 35 D) 45

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