If a trademark is developed internally, it cannot be recognized as an intangible asset on the statement of financial position. True or False

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter11: Long-term Assets
Section: Chapter Questions
Problem 2MC: Which of the following would not be considered an intangible asset? A. goodwill B. patent C....
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If a trademark is developed internally, it cannot be recognized as an intangible asset on the statement of financial position.

True or False

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