Which of the following statements is false regarding intangible assets?

a.

Internally developed intangibles should be recorded as assets for the amount spent to develop them.

b.

Intangibles with a finite life should be amortized on a straight-line basis.

c.

Intangibles with an indefinite life are not subject to amortization.

d.

Purchased intangibles are recorded as assets for the amount paid to acquire them.