Prepare Closers initial journal entry(s) to record its internal use software. Identity which of the following are

Question:

Prepare Closer’s initial journal entry(s) to record its internal use software.
Identity which of the following are (1) expensed as incurred, (2) amortized and reviewed for impairment whenever events or circumstances indicate that the book value may not be recoverable, or (3) reviewed for impairment only.
a. Patent
b. Licenses, granted in perpetuity'
c.
d. Copyright
e. Trademark
f. Computer software costs (after technological feasibility has been established)
g. Research and development (R&D)
Goodwill
Goodwill is an important concept and terminology in accounting which means good reputation. The word goodwill is used at various places in accounting but it is recognized only at the time of a business combination. There are generally two types of...