For intangible assets,controls should be designed to do which of the following?
A)Identify and account for intangible asset impairments.
B)Develop amortization schedules that reflect the remaining useful life of patents or copyrights associated with the asset.
C)Provide reasonable assurance that decisions are appropriately made as to when to capitalize or expense research and development expenditures.
D)All of the above.

Question

Quizplus · Accepted Answer

Controls should be designed to identify and account for intangible asset impairments, develop amortization schedules that reflect the remaining useful life of patents or copyrights associated with the asset, and provide reasonable assurance that decisions are appropriately made as to when to capitalize or expense research and development expenditures. Therefore, option D, "All of the above," is the best choice.

For Intangible Assets,controls Should Be Designed to Do Which of the Following