Question

Which of the following statements is false? Entry field with incorrect answer now contains modified data The amortization period of an intangible life can exceed 20 years. If an intangible asset has a finite life, its cost should be amortized. Goodwill is recorded only when a business is purchased. Research and development costs increase expenses when incurred, except when the research and development expenditures result in a successful patent.

Answer 1

Answer:

The best answer is "D"

Explanation:

Research and development costs are expensed when incurred, except when the research and development expenditures result in a successful patent.