Question: Which statement regarding intangible assets is incorrect? Purchased customer lists are an example of an intangible asset It is often difficult to determine the fair

Which statement regarding intangible assets is incorrect? Purchased customer lists are

Which statement regarding intangible assets is incorrect? Purchased customer lists are an example of an intangible asset It is often difficult to determine the fair value of an intangible asset because there is no active market All intangibles, except goodwill, are amortized over a period of 10 years or less Intangible assets are assets without physical form

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