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Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
ISBN: 9781337788281

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BuyFindarrow_forward

Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
ISBN: 9781337788281
Textbook Problem
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What factors should a company consider in estimating the useful life of an intangible asset?

To determine

Identify the factor that the company should consider while estimating the useful life of an intangible asset.

Explanation

Intangible assets: These are the long-term assets which are not physical in nature, but possess value. The intangible assets would be amortized over their definite useful life or limited useful life, and those with indefinite or unlimited lives are not amortized.

Identify the factor that the company should consider to estimate the useful life of an intangible asset as follows:

The company should consider following factor to estimate the useful life of an intangible assets.

  1. The expected technological, legal or contractual life...

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