When an Intangible Asset Has a Finite Life,it Is Reported

question 68

Short Answer

When an intangible asset has a finite life,it is reported on the balance sheet at original cost with no ____________ taken.

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Definitions:

Loop of Henle

A long, U-shaped portion of the tubule that conducts urine within each nephron of the kidney. It plays an important role in concentrating urine and recovering water and ions from the urine.

Proximal

Anatomical term meaning closer to a point of attachment or closer to the trunk of the body.

Distal Tubules

Sections of the nephron in the kidney that play a crucial role in the reabsorption of ions, water, and in the secretion of substances like potassium and hydrogen ions.