Intangibles have either a limited useful life or an indefiniteuseful life. How should these two different types ofintangibles be amortized?

Q: The book value of a depreciable asset is       A. The original cost of the asset.       B. The…

A: Book value of a depreciable asset means value at which that asset is shown in the balance sheet of…

Q: The transfer to expense of the cost of intangible assets attributed to the passage of time or…

A: Introduction:- Assets are mainly classified into two types as follows under:- Tangible assets…

Q: What is an intangible asset? Provide some examples.

A: Intangible assets: These are the long-term assets which are not physical in nature, but possess…

Q: Explain the Costs of Defending Intangible Rights.

A: Intangible assets are the assets that cannot be seen physically, but its' presence in business have…

Q: What are intangible assets? Intangibles with Identifiable and non-identifiable economic life? Please…

A: Various kinds of physical and non-physical resources that a company purchases and uses for the…

Q: Allowable depreciation reduces the basis of an asset whether the depreciation is deducted or not.

A: Allowable depreciation is the depreciation of the asset which is must allowed to deduct from the tax…

Q: What element must be present when determining if an asset is a depreciating asset?   a. An asset…

A: Depreciation is a reduction in the value of assets due to the usage of that asset. depreciating…

Q: Which one of the following tangible fixed assets would not normally be ?depreciated Option 1…

A: Tangible fixed assets are those fixed assets which have physical appearance.

Q: Which one of the following is not one of the factors in computing depreciation? Cost price…

A: Depreciation means the loss in value of assets because of usage of assets , passage of time or…

Q: How should intangible assets and property, plant, and equipment (PP&E) be treated when their service…

A: The Answer

Q: Why is the cost of certain kinds of property not recoverable at all by way of de-preciation,…

A: Cost of some assets are not recoverable because of the main reason that these assets do not qualify…

Q: Why would refinancing be an alternative to sale of the property?

A: Individuals always buy the properties taking the mortgage because payment for buying the property…

Q: Discuss the factors that influence the estimation of service life for a depreciable asset.

A: Fixed asset:It refers to the long-term assets having a useful life of more than a year which is,…

Q: What are permanently restricted net assets?

A: The permanently restricted net assets are held by the non-profit organizations.

Q: Why FASB treat the spending on the search and development as expense why it can’t be treated as long…

A: Accounting Principles: Accounting principles are the regulations and criteria that businesses must…

Q: Inventor's life is not considered in determining the useful life of an intangible asset.   TRUE OR…

A: Intangible assets are those assets which does not have any physical existence.  That means…

Q: angible assets have all of the following characteristics, except: O they provide benefits to current…

A: "Since you have asked multiple questions, we will solve first question for you. If you want any…

Q: A company could change their intention of use for an intangible asset resulting in the asset no…

A: Yes, a company can change its intention of use for an intangible assets, which may impact how it is…

Q: A loss on impairment of an intangible asset under IFRS is the asset's: a. carrying amount less the…

A:

Q: It results not from a deterioration in the asset's ability to serve its intended purpose, but from a…

A: Depreciation is less  in the value of asset. depreciation is a natural phenomenon in which the value…

Q: Do the fixed assets lose their value even though they continue to function and contribute to the…

A: Meaning of Fixed Assets Fixed assets are those assets which are used in the business with the…

Q: The cost of an item of PPE comprises the initial estimate of the cost of dismantling and removing…

A: Cost of PPE: In addition to the asset's purchase price, tariffs, and taxes that are not recoup able,…