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$17,700 None of the above Question 14 6 pts (CO 6) Which of the following must be capitalized by a business? O Replacement of an alternator on a truck used in business O Replacement of a windshield of a business truck that was broken in an accident O Repair of a roof ○Amount paid for a covenant not to compete None of the above Question 15 6 pts
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Answer #1

Answer c. Amount paid for a covenant not to compete

  • Section 197 requires the capitalization of certain intangible assets, including goodwill
  • Covenants not to compete are included in the definition of Section 197 intangibles
  • The amount paid for a covenant not to compete is capitalized and amortized over 15 year
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