Which of the Following Statements Regarding Intangible Assets Is NOT

question 5

Multiple Choice

Which of the following statements regarding intangible assets is NOT correct?

• A) Intangible assets represent long-term rights and privileges of a nonphysical nature.
• B) Intangible assets should be amortized over a period not to exceed 40 years.
• C) Intangible assets must be tested regularly to determine if their value has been impaired.
• D) A trademark is an example of an intangible asset.

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Definitions:

Classification

is the process of grouping items or ideas based on shared characteristics or criteria.

General-to-Specific

A method of organization or argumentation that begins with broad observations and narrows down to more detailed points or specifics.

Criteria

Standards or benchmarks against which decisions are made or outcomes are evaluated.

Unethical

Actions or behavior that do not conform to accepted standards of moral or professional conduct.