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What the carrying amount of the franchise account should be

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Reference no: EM132744442

Problem 1: Which of the following is an unidentifiable asset?

A. Goodwill

B. Private-to-private franchise

C. Deferred charges

D. Unearned rent

Problem 2: If a franchise becomes worthless before the end of its useful life, the carrying amount of the franchise account should be charged as

A. franchise expense in the current period.

B. a prior period adjustment.

C. impairment loss.

D. amortization expense.

Reference no: EM132744442

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