Asked by
Kayekaye Fundario
on Nov 14, 2024
Verified
An intangible asset should
A) not be amortized if it has an finite life.
B) not be amortized if it has an indefinite life.
C) be amortized over its legal or useful life, whichever is longer.
D) be amortized over 5 years or less.
Intangible Asset
A non-physical asset having value due to its intellectual or proprietary characteristics, such as patents, trademarks, and goodwill.
Amortized
The gradual reduction of a debt through regular payments that cover both interest and principal over time.
- Comprehend the theory and fiscal management relating to intangible assets that possess either finite or indefinite useful lives.
Verified Answer
CC
Learning Objectives
- Comprehend the theory and fiscal management relating to intangible assets that possess either finite or indefinite useful lives.
Related questions
The Cost of a Finite Intangible Asset Is ...
On October 1, 2022, Benji Corporation Purchased a Copyright for ...
If a Company Incurs Legal Costs in Unsuccessfully Defending Its ...
Which of the Following Describes the Appropriate Accounting for Intangible ...
Which of the Following Relationships Between Category of Intangibles and ...