11) All long-term assets are tangible. 12) Intangible assets provide specific legal rights to the owner. 13) Depreciation, depletion, and amortization all refer to capitalizing an asset at its...

11) All long-term assets are tangible.

12) Intangible assets provide specific legal rights to the owner.

13) Depreciation, depletion, and amortization all refer to capitalizing an asset at its cost.

14) Intangible assets are depleted over their useful lives.

15) Intangible assets are depreciated over their useful lives.

16) Intangible assets are amortized over their useful lives.

17) Under U.S. GAAP, research and development costs (R&D) are not capitalized as part of the cost of an asset.