According to Accounting Standards, the Costs of Intangible Assets with an Indefinite

Multiple Choice

According to accounting standards, the costs of intangible assets with an indefinite life, such as goodwill, should:

A) not be amortized, but should be reviewed annually for impairment.
B) be reported on the statement of retained earnings in the year in which it is acquired.
C) be amortized over a reasonable period of time not to exceed 40 years.
D) be debited to an expense account entirely in the year in which acquired.