Which of the following intangible assets should not be amortized?
A)Copyrights
B)Organization costs with limited life
C)Goodwill
D)All of these intangible assets should be amortized.

Question

Quizplus · Accepted Answer

Goodwill should not be amortized as per Generally Accepted Accounting Principles (GAAP). It is instead subject to annual impairment testing to assess whether its value has decreased. Copyrights and organization costs with limited life should be amortized over their estimated useful lives.

Which of the Following Intangible Assets Should Not Be Amortized