The Cost of Developing,maintaining,or Enhancing the Value of a Trademark

question 37

True/False

The cost of developing,maintaining,or enhancing the value of a trademark is capitalized,or added to the value of the asset when incurred.

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Definitions:

Accrued Expenses

Expenses that have been incurred but not yet paid or recorded by the end of the accounting period.

Adjusting Entry

An accounting entry made at the end of an accounting period to record earnings or expenses that have occurred but are not yet entered in the accounts.

Asset Account

An account that shows the value of the assets a company controls, which can include cash, equipment, and real estate.