Which of the following information should be included in management's documentation regarding intangible assets?
A)Manner of acquisition.
B)Basis for the capitalized amount
C)Expected period of benefit.
D)All the above should be included.

Question

Quizplus · Accepted Answer

All of the listed information should be included in management's documentation regarding intangible assets. The manner of acquisition provides information on how the asset was obtained, the basis for the capitalized amount outlines the cost that was incurred in obtaining the asset, and the expected period of benefit sets the time frame for when the benefits of the asset will be realized. Including all of this information in the documentation will ensure that the company has a clear record of the intangible assets, which may be useful for financial reporting and decision-making purposes.

Which of the Following Information Should Be Included in Management's