If a trademark is developed internally, it cannot be recognized as an intangible asset on the statement of financial position.

Name: If a trademark is developed internally, it cannot be recognized as an intangible asset on the statement of financial position.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Internally developed trademarks are not recognized as intangible assets on the balance sheet because they do not meet the recognition criteria of being identifiable and having a measurable cost.

If a Trademark Is Developed Internally, It Cannot Be Recognized