Short-lived
Result in future benefits
Expensed over current and/or future years
Question 2. 2. (TCO C) One factor that is not considered in
determining the useful life of an intangible asset is (Points : 5)
salvage value.
provisions for renewal or extension.
legal life.
expected actions of competitors.
Question 3. 3. (TCO C) Intangible assets are reported on the
balance sheet (Points : 5)
with an accumulated depreciation account.
in the property, plant, and equipment section.
separately from other assets.
None of the above