Costs Incurred Internally to Create Intangibles Are

question 90

Multiple Choice

Costs incurred internally to create intangibles are

• A) capitalized.
• B) capitalized if they have an indefinite life.
• C) expensed as incurred.
• D) expensed only if they have a limited life.

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Definitions:

Bladder

A hollow organ in the pelvic area that stores urine from the kidneys before it is excreted through the urethra.

Marine Cartilaginous Fishes

Fish that have a skeleton made of cartilage rather than bone, including sharks, rays, and skates.

Water Loss

The process by which water is eliminated from an organism or ecosystem through evaporation, transpiration, or excretion.

Urea

A nitrogenous waste product formed in the liver from the breakdown of proteins and excreted in urine.