newconnect.mheducation.com/flow/connect.html Help nation Intangible assets that

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newconnect.mheducation.com/flow/connect.html Help nation Intangible assets that have an indefinite useful life: Multiple Choice Are those with no foreseeable limit on the period of time over which the asset is expected to contribute to the cash flows of the entity those with no legal, contractual, or economic factors thet are expected to limit their useful life to a company Are those whose acquisition costs is not amortized over their useful life. All of these answer choices are correct. e to search

Explanation / Answer

(d) All of these answer choices are correct.

Intangible assets are those assets that cannot be seen, touched or physically measured. Such assets may have a limited useful life or an indefinite useful life. Limited life asset may be amortized over its useful life. However, those with indefinite life, their acquisition costs cannot be amortized over their useful life because such asssets continue to generate cash over not foreseeable period. However they must be evaluated for impairment regularly. No legal, contractual or economic factors are expected to limit their useful life to a company. Thus all the given options are correct in respect of such assets.

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