Factors That Should Be Considered in Determining the Useful Life

question 11

Multiple Choice

Factors that should be considered in determining the useful life of an intangible asset include

• A) Legal, regulatory, or contractual provisions.
• B) The residual value of the asset.
• C) The entity's expected use of the intangible asset.
• D) The effects of obsolescence, competition, and technological change.
• E) All of the above choices are used in determining the useful life of an intangible asset.

---

Definitions:

Empirical Science

A branch of science based on observation and experiment, rather than theory alone.

Dreams

Mental experiences that occur during sleep, often involving imaginary events that can be vivid and emotionally charged.

Repressed Animal Instincts

Psychologically hidden or suppressed basic primal urges or desires often considered to stem from the unconscious mind.

Patient

An individual receiving medical care and treatment from healthcare professionals, often within a hospital or clinic setting.