The acquisition costs for intangible assets are capitalized as assets and are then gradually amortized over the estimated useful lives of the assets.

Question

Quizplus · Accepted Answer

This statement is true. Intangible assets, such as patents, trademarks, and copyrights, are capitalized at their cost and then amortized over their estimated useful lives. This is in accordance with generally accepted accounting principles (GAAP).

The Acquisition Costs for Intangible Assets Are Capitalized as Assets