The Cost of an Intangible Asset

question 101

Multiple Choice

The cost of an intangible asset:

• A)should be immediately charged to expense if the cost was incurred to develop the intangible asset.
• B)should be immediately charged to expense whether the intangible asset was developed internally or purchased.
• C)should be recorded as an asset whose cost, like the cost of land, will not be allocated to expense.
• D)should be charged to expense over the life of the intangible asset.

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