INTERMEDIATE ACCOUNTING(LL)+ACCESS
INTERMEDIATE ACCOUNTING(LL)+ACCESS
17th Edition
ISBN: 9781119503583
Author: Kieso
Publisher: JOHN WILEY+SONS INC.
Question
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Chapter 12, Problem 4Q
To determine

Intangible assets: An asset that has no physical appearance but has money value is termed as intangible assets.

The two types of intangible assets are:

  • Internally created/generated intangible asset
  • Purchased intangible asset

Examples of internally created intangible asset are computer software, licenses, trademarks, patents, films, copyrights, import quotas etc.

To determine and distinct between internally created intangibles and purchased intangibles.

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