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 financial statement because they do not meet the recognition criteria of identifiability, control, and future economic benefits as per accounting standards.

If a Trademark Is Developed Internally, It Cannot Be Recognized