Costs incurred internally to create intangibles are
A) capitalized.
B) capitalized if they have an indefinite life.
C) expensed as incurred.
D) expensed only if they have a limited life.

Question

Quizplus · Accepted Answer

Costs incurred internally to create intangibles are expensed as incurred, regardless of whether they have a limited or indefinite life. Only certain costs related to the development of intangibles can be capitalized, but those are costs incurred after the intangible asset has been recognized.

Costs Incurred Internally to Create Intangibles Are