Which of the Following Expenses Are Likely to Satisfy the Definition

question 14

Multiple Choice

Which of the following expenses are likely to satisfy the definition of an asset,and hence may be capitalised as an intangible asset?

• A) Expenses incurred to develop a brand name;
• B) Advertising expenses
• C) Research expenses
• D) None of the given answers.
• E) All of the given answers.

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Definitions:

Section 179

A tax code provision allowing businesses to deduct the full purchase price of qualifying assets financed or purchased during a tax year, subject to limits.

Business Trip

A journey taken for work or business purposes, often involving travel outside the usual work environment.

Expense Deduction

An expenditure that is subtracted from gross income to reduce the amount of income that is subject to taxation.

Airfare

The cost or price of a ticket for travel by airplane.