Which of the Following Statements Is Correct

question 47

Multiple Choice

Which of the following statements is correct?

• 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.

---

Definitions:

Basilar Membrane

A structure in the cochlea of the inner ear that plays a key role in the mechanical-to-neural transduction of sound waves into electrical signals.

Hard-Of-Hearing

A partial loss of hearing ranging from slight to severe, often requiring enhanced communication methods or devices.

High-Pitched

Describes a tone that is very sharp or has a very high frequency.

Frequency Theory

In hearing, the theory that the rate of nerve impulses traveling up the auditory nerve matches the frequency of a tone, thus enabling us to sense its pitch. (Also called temporal theory.)