If a company incurs legal costs in successfully defending its patent, these costs are recorded by debiting
A)Legal Expense.
B)the Intangible Loss account.
C)the Patent account.
D)a revenue expenditure account.

Question

Quizplus · Accepted Answer

When a company incurs legal costs to successfully defend a patent, these costs are capitalized by debiting the Patent account, as they enhance the value of the patent.

If a Company Incurs Legal Costs in Successfully Defending Its