Which of the following is not required to be disclosed in an entity's financial statements or accompanying footnotes?
A)the total amount of research and development costs charged to expense during the current year
B)the method used to amortize the entity's intangible assets
C)a material amount of internally developed goodwill
D)accumulated amortization on the entity's intangibles as of its year-end

Question

Quizplus · Accepted Answer

All of the other options are required disclosures in financial statements or accompanying footnotes. However, internally developed goodwill is not recognized as an asset under generally accepted accounting principles (GAAP) and therefore would not be disclosed.

Which of the Following Is Not Required to Be Disclosed