Which of the Following Statements Is True with Respect to Intangible

question 41

Multiple Choice

Which of the following statements is true with respect to intangible assets with indefinite lives?

• A)They should be amortized over a period of 40 years.
• B)They should be expensed to income in the year they are acquired.
• C)They should be evaluated each year to determine if there has been any impairment in their value.
• D)They are never amortized or written down but remain on the company's balance sheet at their original cost forever.

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Definitions:

Direction

Guidance or supervision provided to perform tasks or to make decisions and progress in activities or objectives.

Motivation

The process that initiates, guides, and maintains goal-oriented behaviors.

Maslow's Hierarchy

A psychological theory proposing a five-tier model of human needs, ranging from basic physiological needs to higher-level self-actualization needs, influencing motivation.

Collectivist Societies

Societies that prioritize the group over the individual, emphasizing interdependence, cooperation, and the welfare of the group as a whole.