How should the cost of intangible assets with indefinite lives be accounted for? O They should be capitalized as an asset and checked for impairment periodically. O They should be amortized over the assets' estimated useful lives, or their legal lives, whichever is shorter O They should be amortized over the assets' estimated useful lives, or their legal lives, whichever is longer. O They should be expensed at acquisition. eTextbook and Media

How should the cost of intangible assets with indefinite lives be accounted for? O They should be capitalized as an asset and checked for impairment periodically. O They should be amortized over the assets' estimated useful lives, or their legal lives, whichever is shorter O They should be amortized over the assets' estimated useful lives, or their legal lives, whichever is longer. O They should be expensed at acquisition. eTextbook and Media

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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