Asked by
Vijay Sai Reddy Thummala
on Oct 28, 2024
Verified
Which amortization method should be used for intangibles that are amortized?
A) a method based on the expected pattern of benefits to be produced by the asset
B) a method based on an annual review for impairment
C) the straight-line method; all others are inappropriate
D) any method is appropriate
Intangibles
Assets that lack physical substance but possess value, such as patents, trademarks, and goodwill.
Amortization Method
A technique used to gradually write off the initial cost of an asset over a period, reflecting its consumption, wear and tear, or obsolescence.
- Apply the appropriate amortization methods for intangible assets.
Verified Answer
CC
Learning Objectives
- Apply the appropriate amortization methods for intangible assets.