Answered: Costs incurred internally to create…

Costs incurred internally to create intangibles are required to be a. expensed as incurred b. capitalized c. expensed only if they have a limited life d. capitalized if they have an indefinite life

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 4C

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Question

Costs incurred internally to create intangibles are required to be
a. expensed as incurred
b. capitalized
c. expensed only if they have a limited life
O d. capitalized if they have an indefinite life

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