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Accounting 102. Q: Which of the following statements about intangible assets is FALSE? The acquisition cost of a franchise or license is amortized over its

Accounting 102. Q: Which of the following statements about intangible assets is FALSE? The acquisition cost of a franchise or license is amortized over its useful life. Goodwill is recorded only by an acquiring company when it purchases another company. Patents are amortized over their useful life not their legal life. A trademark is the exclusive right to reproduce and sell a work of art.

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