Indicate Whether Each of the Following Statements Is True or False

question 45

Essay

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 life or useful life.
_____ d) The entry to record the amortization of a patent includes an increase to Amortization Expense, Patent and a decrease to Patent.
_____e) The capitalized cost of a trademark includes the cost to develop the trademark and to defend it.

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Definitions:

Clean Dishes

The result of washing dishes in which all food debris, grease, and dirt are removed, leaving the dishes sanitary and ready for use.

Premise

An initial statement or proposition from which another is inferred or follows as a conclusion.

Exhausting

Causing extreme tiredness and depletion of energy; very demanding and tiring.

Argument

A set of statements or reasons made to persuade others that an action or idea is right or wrong.