Homework Answers
Johan company has Intangible asset with useful life of 10 years. Johan company should report amortization in financial statements.
Abco co. has goodwill with indefinite life. If an Intangible asset will continue to provide economic value without deterioration over time, then such Intangible asset should not be amortized.
So, Johan Co. - Yes
Abco co. = No
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