Which of the Following Statements Is True

question 116

Multiple Choice

Which of the following statements is true?

• A) Long-lived tangible assets will not be used up within one year of the purchase date, but there is no minimum useful life for long-lived intangible assets.
• 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.

---

Definitions:

Federal Election Commission

A U.S. government agency tasked with regulating campaign finance legislation in federal elections.

Campaign Rules

Regulations that govern the conduct of electoral campaigns, including financing, advertising, and interactions with voters, to ensure fair and transparent elections.

Citizens United

A landmark Supreme Court case that ruled corporate funding of independent political broadcasts in candidate elections cannot be limited under the First Amendment.

Supreme Court Decision

A ruling made by the Supreme Court, the highest judicial body in a country, particularly in the United States, which has the final say on legal matters and constitutional interpretation.