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Which of the following statements is false regarding intangible assets? Internally developed intangibles should be...

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Accounting

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Which of the following statements is false regarding intangible assets? Internally developed intangibles should be recorded as assets for the amount spent to develop them. Intangibles with a finite life should be amortized on a straight-line basis. Intangibles with an indefinite life are not subject to amortization. Purchased intangibles are recorded as assets for the amount paid to acquire them

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