Which of the Following Statements Is Correct About Intangible Assets

question 68

Multiple Choice

Which of the following statements is correct about intangible assets that have an indefinite life span?

• A)This is an infinite lived asset.
• B)The asset is expected to continue providing economic benefits for the foreseeable future.
• C)Management does not know how long the asset is expected to provide economic benefits.
• D)The asset has fixed and determinable cash flows.

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Definitions:

Kin Group

A social unit consisting of family members and relatives who share a common ancestry and are bound by social ties.

Direct Line of Descent

A familial lineage tracing directly down (or up) through generations, such as from parent to child, without regard to gender.

Surname

A family name passed down from generation to generation, often used in conjunction with a given name to identify a specific individual.

Father's Name

The given name or names of an individual's father, often used for identification or genealogical purposes.