The Cost of an Internally Developed Unidentifiable Intangible Is Expensed

question 24

Multiple Choice

The cost of an internally developed unidentifiable intangible is expensed as incurred.Accordingly, which one of the following costs would be expensed in the year it was incurred?

• A)legal cost of obtaining a patent
• B)cost of improvements with a three-year life made to an asset that is being leased by the company for a five-year period
• C)deferred charges
• D)cost incurred to train management-level employees

Understand the principles of accommodation and perspective-taking in relationships.

Recognize the influence of self-control and mindfulness on personal development and relationships.

Identify the components of the dark triad and their impact on interpersonal relationships.

Understand the role of empathy, compassion, and perspective-taking in fostering healthy relationships.

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Definitions:

Insurance Policies

Contracts between an insurer and an insured that provides financial protection or reimbursement against losses.

Total Gross Pay

The complete amount of income earned by an employee before any deductions or taxes are applied.

Commission

A fee paid to an agent or employee for transacting a piece of business or performing a service, often a percentage of the sale.

Net Proceeds

The amount of money received from a sale after subtracting costs and expenses.