Acquired in-process research and development is considered as
A) A definite-lived asset subject to amortization.
B) A definite-lived asset subject to testing for impairment.
C) An indefinite-lived asset subject to amortization.
D) An indefinite-lived asset subject to testing for impairment.
E) A research and development expense at the date of acquisition.

Question

Quizplus · Accepted Answer

Acquired in-process research and development is considered an indefinite-lived asset subject to testing for impairment until the completion or abandonment of the associated project.

Acquired In-Process Research and Development Is Considered as