Question
Which of the following statements is true with respect to intangible assets with indefinite lives? They are not amortized or written down but remain on
Which of the following statements is true with respect to intangible assets with indefinite lives?
They are not amortized or written down but remain on the company's balance sheet at their original cost.
They should be amortized over a period of 40 years.
They should be expensed to income in the year they are acquired.
They should be evaluated each year to determine if there has been any impairment in their value.
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Accounting Volume 2
Authors: James Reeve, Jonathan Duchac, Sheila Elworthy, Carl S. Warren
2nd Canadian edition
176501452, 978-0176501457, 978-0176509743
