The Acquisition Cost of an Intangible Asset Should Be Charged

question 69

True/False

The acquisition cost of an intangible asset should be charged to expense over the shorter of its legal or useful life.

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Definitions:

T-Distribution

A probability distribution used in statistics that arises when estimating the mean of a normally distributed population in situations where the sample size is small and population variance is unknown.

Confidence Interval

A range of values, derived from the sample data, that is believed, with a certain degree of probability, to contain the true population parameter.

Margin Of Error

An estimate of the amount by which an observed sample result may differ from the true value, providing a confidence interval for the estimation.

Statistic

A numerical characteristic or measure of a sample extracted from a larger population.