The carrying amount of an intangible is
A)the fair market value of the asset at a balance sheet date.
B)the asset's acquisition cost less the total related amortization recorded to date.
C)equal to the balance of the related accumulated amortization account.
D)the assessed value of the asset for intangible tax purposes.

Question

Quizplus · Accepted Answer

The carrying amount of an intangible asset is the asset's acquisition cost less the total related amortization recorded to date. This represents the net book value of the intangible asset on the balance sheet.

The Carrying Amount of an Intangible Is