If an Acquired Franchise or License Is for an Indefinite

question 26

True/False

If an acquired franchise or license is for an indefinite time period, then the cost of the asset should not be amortized.

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Definitions:

Grassroots Organization

Community-based groups that aim to bring about social, political, or environmental changes from the bottom up, relying on the active participation of its members.

501(c)(3) Nonprofit

A classification by the IRS for non-profit organizations that are exempt from federal income tax, typically charitable, religious, educational, or scientific organizations.

Health-Care Facility

A place that provides health care services, such as hospitals, clinics, outpatient care centers, and specialized care centers.

Internal Communications

The practice of effectively disseminating information, sharing ideas, and fostering dialogue within an organization.