Organization costs are classified as intangible assets.

Name: Organization costs are classified as intangible assets.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Organization costs are considered as intangible assets as they represent the expenses incurred during the formation of a company or business entity. They include legal and registration fees, incorporation fees, accounting fees, and other related expenses. These expenses are capitalized and amortized over time, as they provide a long-term benefit to the organization.

Organization Costs Are Classified as Intangible Assets