If an Intangible Asset Has a Legal Life of Eight

question 57

Multiple Choice

If an intangible asset has a legal life of eight years but contractually the usefulness is limited to six years, a company will amortize the cost over:

• A) Eight years.
• B) Six years.
• C) Seven years.
• D) Either six or eight years is allowed.

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Definitions:

Ethnocentrism

The belief in the inherent superiority of one's own ethnic group or culture, often accompanied by a devaluation of other groups or cultures.

Effective Leadership

refers to the ability of an individual to influence, motivate, and enable others to contribute toward the effectiveness and success of the organizations of which they are members.

Cultural Competence

The ability of individuals and organizations to effectively interact, work, and engage with people from different cultural backgrounds.

Viewpoints

The positions or perspectives from which something is considered or evaluated, reflecting a person's attitude, beliefs, or knowledge on a subject.