According to generally accepted accounting principles, the proper accounting treatment of the cost of developing intangible assets is to
a. carry the cost as an asset indefinitely.
b. amortize the cost over five years.
c. amortize the cost over a reasonable life.
d. write off the cost immediately.
D
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The specific regulation of the U.S. government that governs the fair distribution of income is ________
A) the Robinson-Pitman Act B) the Sherman Antitrust Act C) GATT D) Section 482 of the tax code
Crystal, Inc issued $41,000,000 of bonds. Assuming the most common denomination of bonds, the number of bonds sold was
a. 41,000. b. 410,000. c. 4,100,000. d. 41,000,000.
Expectations are always based on our perceptions
Indicate whether the statement is true or false
The WTO allows member countries to establish any of the following except:
A. Standards necessary to protect human and animal life or health B. Standards necessary to conserve exhaustible natural resources C. Standards necessary to protect plant life D. Trade barriers