Amortization of Intangible Assets (Ch. 7)

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8 Terms

1
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Patent

Amortized, finite legal life (20 years)

2
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Copyright

Amortized, finite legal life

3
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Franchise or license with a set term

Amortized, ends when the contract ends

4
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Customer list or software purchased

Amortized, useful for a limited time

5
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Trademark

Not amortized, indefinite life, tested for impairment

6
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Franchise with perpetual renewal

Not amortized, no foreseeable end to its life

7
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Franchise with perpetual renewal

Not amortized, no foreseeable end to its life

8
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Goodwill

Not amortized, indefinite life, tested for impairment