menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Intermediate Accounting Study Set 7
  4. Exam
    Exam 11: Long-Term Operating Assets: Acquisition, Cost Allocation
  5. Question
    If the Intangible Asset Has a Finite Useful Life, the Company
Solved

If the Intangible Asset Has a Finite Useful Life, the Company

Question 4

Question 4

True/False

If the intangible asset has a finite useful life, the company must include in their financial statement disclosures whether to use the useful life or the legal life. Assume U.S. GAAP is followed.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q1: Goodwill is recognized only when the purchase

Q2: Average age of a company's long-term operating

Q3: During its first year of operation, Dovery

Q5: What criteria does a company use to

Q6: Firms recognize all gains and losses, computed

Q7: The period of time for which interest

Q8: In a nonmonetary exchange with commercial substance,

Q9: Scrap value is also referred to as

Q10: During 2018, Dosekis Co. calculated weighted-average accumulated

Q11: IFRS permits the use of full-cost accounting

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines