Intangible assets with indefinite lives must be amortized annually

R&D costs are capitalized as incurred

Intangible assets within a class may be measured differently using either the cost model or the revaluation model

Internally generated goodwill cannot be recognized as an asset

Fees to purchase an existing patent from another party are expensed

Legal costs incurred to defend a patent will be expensed but only if the legal proceedings are successful

Legal costs incurred to defend a patent will be capitalized but only if the legal proceedings are unsuccessful

Most costs incurred to generate a patent internally will be expensed

Companies can elect to amortize goodwill if goodwill is generated internally

Costs to develop and maintain goodwill are capitalized in the goodwill account

Costs to develop and maintain good are expensed

Goodwill is capitalized and amortized over 40 years

When carrying value is less than fair market value

When the FMV has decreased permanently

When circumstances change which indicate that the carrying amount may not be recoverable

When the company financial statements are ready

They are considered R&D expenses

They are not considered R&D expenses

They are capitalized

These expenses are amortized are incurred

A debit to legal expenses of $20,000

An allocation between legal expenses and an intangible asset

A debit to amortization expense for $20,000

A debit to an intangible asset for $20,000