How will the money spent on purchasing intangible assets, such as a patent, normally be recorded?

Name: How will the money spent on purchasing intangible assets, such as a patent, normally be recorded?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Intangible assets such as patents are recorded as an intangible asset and amortized over their useful life, which is determined by the expected benefits from the asset. This is in accordance with the matching principle in accounting. Therefore, option D is the correct answer.

How Will the Money Spent on Purchasing Intangible Assets, Such