a$.$ False

b$.$ True

A feasibility study has confirmed that future economic benefits and service potential will be realized from the installation of an ERP software system. The expected useful life of the system and hardware is $5$ years. The following information summarizes the expenditures made. What is the total cost that should be recognized as an intangible asset of a government?

Feasibility, internal needs assessment, vendor evaluation and selection $$1000$

Hardware $$5000$

System configuration and implementation $($internal staff $$3000$ and external Consultants $$17000)$ totaling $$20000$

System License purchase $($one time$)$ $$1500$

Answer: $$