Internally Generated Software Cannot Be Capitalized and Must Therefore Be

question 6

True/False

Internally generated software cannot be capitalized and must therefore be expensed.

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Definitions:

Investment Banks

Financial institutions that provide services such as underwriting, mergers and acquisitions, and advisory services to corporations and governments.

Lehman Brothers

A former global financial services firm that filed for bankruptcy in 2008, becoming a symbol of the largest bankruptcy in U.S. history and a catalyst for the global financial crisis.

Bankrupt

A financial condition in which an individual or organization is unable to meet their debt obligations.

National Unemployment Rate

A measure of the percentage of the workforce that is not employed but is actively seeking employment within a country.