1. Give three examples of intangible assets that can and should be amortized.

2. Which intangible asset may never be amortized?

3. Tangible long-term assets such as PP&E are depreciated, and certain intangible assets may be amortized. What is another scenario under which long-term assets may be converted into expenses? There is a specific term that you must use. Explain your answer. Hint: read the Chapter 10 PowerPoints.