Which of the Following Statements Is True

question 54

Multiple Choice

Which of the following statements is true?

• A)Amortization of intangible assets is always recorded in a contra asset account.
• B)Items in a company's inventory that are not expected to be sold in the next year are considered long-lived assets.
• C)All long-lived intangible assets must be amortized over a period of 40 years or less.
• D)Intangible assets with unlimited or indefinite lives are not amortized.

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Definitions:

Grammatical Correctness

The adherence to rules and principles of syntax, punctuation, and spelling in written language.

Credibility

The perceived trustworthiness or believability of a source or message.

National Anthem

A patriotic musical composition that is formally recognized by a country as its official song.

Passive

A grammatical voice or communication style where the subject of the sentence has an action done to it, often downplaying the actor.