Quiz 11.116 – Amortization of Intangible Assets with Different Legal and Contractual Lives

Intermediate Accounting

Spiceland, Nelson, and Thomas

10th Edition

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If an intangible asset has a legal life of eight years but its usefulness is contractually limited to six years, how many years will a company use to amortize its cost, according to the given options?

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  • Search Terms: a allowed. amortize an asset but company contractually cost eight either has if intangible is legal life limited of or over: a) seven six the to usefulness will years years, years. b) years. c) years. d)
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