According to Generally Accepted Accounting Principles,the Proper Accounting Treatment of the Cost

question 139

Multiple Choice

According to generally accepted accounting principles,the proper accounting treatment of the cost of developing intangible assets is to

• A)carry the cost as an asset indefinitely.
• B)amortize the cost over five years.
• C)amortize the cost over a reasonable life.
• D)write off the cost immediately.

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Definitions:

Synapse

The junction between two neurons, where nerve impulses are transmitted from one to the other.

Sodium

A chemical element, symbol Na, that is a highly reactive metal and an essential mineral for living organisms.

Potassium

A chemical element with symbol K and atomic number 19, essential for various bodily functions including neural activity and muscle contraction.

Cognitive Processes

Mental activities involved in acquiring, processing, and storing knowledge, such as perception, memory, and reasoning.