a. Physical existence. b. Claim to a specific amount of cash in the future. c. Long-lived. d. Held for resale.
23. Which characteristic is not possessed by intangible assets? a. Physical existence. b. Short-lived. c. Result in future benefits. d. Expensed over current and / or future years. 24. Costs incurred internally to create intangibles are a. capitalized. b. capitalized if they have an indefinite life. c. expensed as incurred. d. expensed only if they have a limited life.
25. Which of the following costs incurred internally to create an intangible asset is generally expensed?
a. Research and development costs. b. Filing costs. c. Legal costs.