New Ventures Corp Which Statement Is Correct?
A)Both of These Assets Will Have

question 3

Multiple Choice

New Ventures Corp., a publicly accountable entity, capitalized the following costs: $$\begin{array} { | l | r | r | } \hline & \text { Jan 1 - April 30, 2021 } & \text { May 1 - Dec. 31, 2021 } \\\hline \text { Patents } & 10,000 & 12,000 \\\hline \text { Copyrights } & 15,000 & 32,000 \\\hline\end{array}$$ Which statement is correct?

• A)Both of these assets will have an indefinite useful life.
• B)Both of these assets will have a definite useful life.
• C)For both assets, the useful life will be equal to the asset's legal life.
• D)For both assets, the useful life could be shorter than its legal life.

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Definitions:

Audition

The process of hearing or the ability to hear.

Vestibular Sense

The sensory system that contributes to balance and spatial orientation by detecting changes in motion and the position of the head.

Perception

The process by which individuals interpret and organize sensory information to understand their environment.

Stroboscopic Movement

an optical illusion in which continuous motion is represented by a series of short or instantaneous samples, as seen in motion pictures.