Which of the Following Statements Concerning Intangibles Is True

question 60

Multiple Choice

Which of the following statements concerning intangibles is true?

• A)A copyright should be considered an intangible with an indefinite life.
• B)Organization costs must be expensed as incurred.
• C)A patent should be amortized over the shorter of the inventor's life or its economic life.
• D)The registration of a trademark or trade name lasts for 20 years and is nonrenewable.

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Definitions:

Action Plan

A detailed strategy outlining the steps necessary to achieve a particular goal or objective, including timelines and resources needed.

Engaged Employee

A worker who is fully involved in, and enthusiastic about, his or her work and therefore acts in a way that furthers their organization's interests.

Behavior Modification

System of motivation that emphasizes rewarding people for doing the right things and punishing them for doing the wrong things.

Rewarding

Offering satisfaction, happiness, or benefit, especially after an effort.