Indicate Whether Each of the Following Statements Is True or False

question 105

Short Answer

Indicate whether each of the following statements is true or false.
_____ a)A trademark has an identifiable legal lifetime.
_____ b)U.S.GAAP requires that research and development costs be capitalized as assets and then expensed over a reasonable period of time.
_____ c)A patent is amortized over the longer of its legal or useful life.
_____ d)The entry to record the amortization of a patent includes a debit to Amortization Expense,Patent and a credit to Patent.
_____e)The capitalized cost of a trademark includes the cost to develop the trademark and to defend it.