Intangible Assets with Definite Useful Lives Should Be Amortized

question 5

Multiple Choice

Intangible assets with definite useful lives should be amortized:

• A) over their useful lives.
• B) over the time periods provided under IAS 36 Impairment of Assets which prescribes amortization periods for different classes of assets.
• C) under the applicable capital cost allowance rates provided by the Canada Revenue Agency.
• D) over two years.

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Definitions:

Self-Actualization Needs

The apex of Maslow's needs pyramid, which encompasses achieving one's ultimate potential, pursuing self-realization, aiming for personal development, and experiencing life's high points.

Social Responsibility

The obligation of an entity, individual or corporate, to act for the benefit of society at large, often incorporating ethical considerations and sustainability practices into business operations.

Behaviour Modification

The application of behavioral change techniques to alter individuals' activities and reactions.

Esteem Needs

According to Maslow's hierarchy of needs, these are the fourth level and include self-esteem, confidence, respect by others, and respect for others.