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Are maintenance expenses Intangible Liabilities of Intangible Assets? Explain.

Are maintenance expenses Intangible Liabilities of Intangible Assets? Explain.

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Intangible assets are those that do not have a physical existence but can only be recorded in the financial statements through a legal document or agreements. Expenses that are incurred to maintain the intangible assets are expenses that have to the recognized in the income statement. They cannot be said as intangible liabilities of intangible assets since liabilities are those that the company owes. And the expenses incurred for maintaining intangible assets is to increase the life of the asset and not that the company has to pay for.

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