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.