The cost of intangible assets of an intellectual nature is composed primarily of: Select one: a....
The cost of intangible assets of an intellectual nature is composed primarily of:
Select one:
a. Legal fees and the purchase price to obtain rights from a second party
b. Cerebral material
c. Real property
d. Scholarly books
Homework Answers
The answer is option a - Legal fees and the purchase price to obtain rights from a second party.
Cost of intangible assets includes the cost of buying the intangible assets from a second party and legal fees incurred by the company to get the intangible assets registered with the government authority to protect the intangible asset from unauthorized use by any third parties.
Option b is not correct as legal fees is also integral part of cost of intangible assets.
Option c is also not correct as intangible assets can not be real property.
Option d is also not correct as Scholarly books are tangible assets and not intangible assets.
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