If the defense of an intangible right is unsuccessful,then the firm should expense the litigation costs as incurred because they provide no future benefit.

Question

Quizplus · Accepted Answer

If the defense of an intangible right is unsuccessful, the firm cannot realize any future benefits from the litigation costs expended. Therefore, under generally accepted accounting principles (GAAP), the costs should be expensed as incurred.

If the Defense of an Intangible Right Is Unsuccessful,then the Firm