Which of the Following Intangible Assets Is Not Subject to the 15-Year

question 45

Multiple Choice

Which of the following intangible assets is not subject to the 15-year amortization period?

• A)Purchased goodwill.
• B)A professional football franchise purchased and relocated to Indianapolis.
• C)A covenant not to compete.
• D)A purchased customer list for mail order clothing.
• E)A trademark.

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Definitions:

Pressure Gradient

The physical quantity that represents the rate of pressure changes over a specified distance in a fluid medium.

Phloem

The plant's vascular system responsible for moving sugars and other substances produced during metabolism from the leaves downward.

Springwood

The portion of a tree's annual growth ring that is formed in the early part of the growing season, characterized by larger and less dense cells than those produced later in the season.

Conducting Cells

Cells in plants that form the tubes for transporting water, minerals, and nutrients, namely xylem and phloem cells.