Which of the Following Is Most Likely to Be an Intangible

question 22

Multiple Choice

Which of the following is most likely to be an intangible asset with an indefinite life?

• A)Leasehold
• B)Franchise
• C)Patent
• D)Goodwill

---

Definitions:

Concurrent Federal Jurisdiction

involves cases where both the federal and state courts have the authority to hear the same case.

Federal Courts

Courts established by the federal government that have jurisdiction over matters specifically granted them by the U.S. Constitution and federal statutes.

Questions of Law

involve issues about the interpretation or application of law, which are typically decided by a judge rather than a jury.

Peremptory Challenge

In a jury trial, the right of the plaintiff and the defendant in jury selection to reject, without stating a reason, a certain number of potential jurors who appear to have an unfavorable bias.