Question

Which of the following statements is correct?

A) Amortization of intangible assets is always recorded in a contra asset account.

B) Items in a company's inventory that are not expected to be sold in the next year are considered long-lived assets.

C) All long-lived intangible assets must be amortized over a period of 40 years or less.

D) Intangible assets with unlimited or indefinite lives are not amortized.

Answer

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