Which of the following costs should always be expensed as incurred?
A)the costs of externally acquired identifiable intangible assets
B)the externally incurred costs directly associated with internally developed identifiable intangible assets
C)the costs of internally developed unidentifiable intangible assets
D)the costs of externally acquired unidentifiable intangible assets

Question

Quizplus · Accepted Answer

Internally developed unidentifiable intangible assets, such as research and development costs, should always be expensed as incurred according to Generally Accepted Accounting Principles (GAAP). The other options may be subject to different accounting treatments depending on specific circumstances.

Which of the Following Costs Should Always Be Expensed as Incurred