Costs associated with various intangibles of a company may either be expensed when incurred or capitalized and amortized. Such costs might be recorded in any of the following ways:
a.charged to the patent account and amortized
b.charged to the franchise account and amortized
c.charged to other appropriate asset accounts and amortized or depreciated
d.charged to expense when incurred
Required:
Indicate how each of the following costs should be recorded by placing the appropriate letter (a-d) in the space provided.

Question

Costs associated with various intangibles of a company may either be expensed when incurred or capitalized and amortized. Such costs might be recorded in any of the following ways: 
a.charged to the patent account and amortized
b.charged to the franchise account and amortized
c.charged to other appropriate asset accounts and amortized or depreciated
d.charged to expense when incurred
Required:
Indicate how each of the following costs should be recorded by placing the appropriate letter (a-d) in the space provided.

Quizplus · Accepted Answer

The Answer of Costs associated with various intangibles of a company may either be expensed when incurred or capitalized and amortized. Such costs might be recorded in any of the following ways: 
a.charged to the patent account and amortized
b.charged to the franchise account and amortized
c.charged to other appropriate asset accounts and amortized or depreciated
d.charged to expense when incurred
Required:
Indicate how each of the following costs should be recorded by placing the appropriate letter (a-d) in the space provided.

Costs Associated with Various Intangibles of a Company May Either