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:

Excess

The amount by which something, such as inventory or revenue, exceeds what is normal, necessary, or specified, often indicating surplus or overproduction.

Cumulative Preferred Stock

Type of preferred stock where missed dividend payments accumulate and must be paid out before dividends can be distributed to common stockholders.

Dividends Per Share

The amount of declared dividends for every share of common stock issued.

Common Stock

Common stock represents units of ownership in a public corporation, giving holders voting rights and a share in the company's profits via dividends.