Mega Industries Has an Intangible Asset That Is Being Amortized

question 191

Essay

Mega Industries has an intangible asset that is being amortized over a ten-year time period.However,a competitor has just introduced a new product that will have a serious negative impact on the asset's value.Should the company continue to amortize the intangible asset over the ten-year life? Explain.

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Definitions:

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