The cost of a finite intangible asset is
A) not amortized, but the asset is tested periodically for impairment.
B) amortized and tested periodically for impairment.
C) neither amortized or tested periodically for impairment.
D) amortized, but not tested periodically for impairment.

Question

Quizplus · Accepted Answer

Finite intangible assets are amortized over their useful life and are also tested for impairment to ensure their carrying value does not exceed their recoverable amount.

The Cost of a Finite Intangible Asset Is