Answered: Briefly explain what a “§ 197…

Briefly explain what a “§ 197 intangible” is and why Congress decided to throw all purchased intangibles (such as in Fitch) together into a 15-year amortization pot.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter12: Intangibles

Section: Chapter Questions

Problem 1MC: What is the proper time or time period over which to amortize an intangible asset if there is no...

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Briefly explain what a “§ 197 intangible” is and why Congress decided to throw all purchased intangibles (such as in Fitch) together into a 15-year amortization pot.

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