Which of the Following Intangible Assets Is Subject to the 15-Year

question 62

Multiple Choice

Which of the following intangible assets is subject to the 15-year amortization period?

• A)The ownership rights to the TV program "Wheel of Fortune".
• B)A professional football franchise purchased and relocated to Los Angeles.
• C)Covenant not to compete for five years as part of the purchase of a business.
• D)A purchased interest in a high tech partnership.
• E)An interest under an existing lease of a oil rig.

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Definitions:

Anthrax Bacteria

A bacterium known as Bacillus anthracis that causes the acute disease anthrax, affecting both humans and animals.

Inductive Reasoning

A method of reasoning in which specific observations lead to a general conclusion or theory.

Deductive Reasoning

The use of general principles to predict specific outcomes. Often uses “if… then” statements.

Technology

The application of scientific knowledge for practical purposes, especially in industry.