U.S. GAAP requires that firms combine indefinite-life intangibles into an asset grouping if they are operated as a single asset.

Question

Quizplus · Accepted Answer

U.S. GAAP requires that firms combine indefinite-life intangibles into an asset grouping if they are operated as a single asset. This is because indefinite-life intangibles are not amortized, and combining them into an asset grouping allows for more efficient management and reporting of these assets.

US GAAP Requires That Firms Combine Indefinite-Life Intangibles into an Asset