Indicate whether each of the following statements is true or false.a)A trademark has an identifiable legal lifetime.b)U.S. GAAP requires that research and development costs be capitalized as assets and then expensed over a reasonable period of time.c)A patent is amortized over the longer of its legal or useful life.d)Recording the amortization of a patent includes increasing Amortization Expense and decreasing the Patent account.e)The capitalized cost of a trademark includes the cost to develop the trademark and to defend it.

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b)False c)False d)True e)Ta)This is false. A trademark can be used indefinitely as long as the company that owns the trademark renews its registration.b)This is false. U.S. companies must expense research and development costs.c)This is false. A patent is amortized of the shorter, not longer, of its legal or useful life.d)This is true. Typically, companies do not use a contra-asset account similar to accumulated depreciation to record amortization. Instead, the Patent account is decreased by the amount of amortization.e)This is true. Development of a trademark is capitalized, as well as continuing expenditures related to defending the trademark against infringement.

Indicate Whether Each of the Following Statements Is True or False.a)A