Which of the following is not true regarding the accounting for the cost of intangibles per GAAP? $\begin{array}{lll}
&\text { Category }&\text { Account for cost by}\
\text { I. } & \text { Purchased identifiable intangibles } & \text { Capitalizing all cost } \
\text { II. } & \text { Purchased uniclentifiable intangibles } & \text {Capitalizing all cost } \
\text {III.} & \text { Internally developed identifiable intangibles } & \text { Capitalizing all cost } \
\text {IV.} & \text { Internally developed uridentifiable intangibles} & \text { Expensing all costs} \
\end{array}$

A)I
B)II
C)III
D)IV

Question

Which of the following is not true regarding the accounting for the cost of intangibles per GAAP? $\begin{array}{lll}
&\text { Category }&\text { Account for cost by}\
 \text { I. } &  \text { Purchased identifiable intangibles } &  \text { Capitalizing all cost } \
 \text { II. } &  \text {  Purchased uniclentifiable intangibles  } &  \text {Capitalizing all cost  } \
 \text {III.} &  \text { Internally developed identifiable intangibles  } &  \text { Capitalizing all cost } \
 \text {IV.} &  \text {  Internally developed uridentifiable intangibles} &  \text {  Expensing all costs} \
\end{array}$

A)I
B)II
C)III
D)IV

Quizplus · Accepted Answer

For internally developed identifiable intangibles, not all costs are capitalized. Some costs are expensed as incurred, such as research and development costs, while only certain development costs meeting specific criteria are capitalized.

Which of the Following Is Not True Regarding the Accounting