Which of the Following Statements Regarding Intangible Assets Is Not

question 36

Multiple Choice

Which of the following statements regarding intangible assets is not correct?

• A) Intangible assets represent long-term rights and privileges of a nonphysical nature.
• B) A trademark is an example of an intangible asset.
• C) Intangible assets must be tested regularly to determine if their value has been impaired.
• D) Intangible assets should be amortized over a period not exceed 40 years.

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Definitions:

Plucking

The removal of pieces of rock by a glacier.

Abrasion

The process of wearing down or rubbing away materials through mechanical action, often seen in geological contexts.

Scraping

the process of removing material from a surface using a hard edge or object.

Gouging

The process of making grooves or marks in a surface, often related to glacial activity in geological contexts.