Intermediate Accounting (16th Edition)

Published by Wiley
ISBN 10: 1118743202
ISBN 13: 978-1-11874-320-1

Chapter 12 - Intangible Assets - Review and Practice - Questions - Page 637: 3

Answer

Intangible assets that have a useful life are amortized through charges to the expense account over the life of the asset. One the other hand, Intangible assets that have an indefinite life are not amortized.

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