29. Under current accounting practice, intangible assets are classified as
a. amortizable or unamortizable. b. limited-life or indefinite-life. c. specifically identifiable or goodwill-type. d. legally restricted or goodwill-type.
30. Companies should test indefinite life intangible assets at least annually for:
a. recoverability. b. amortization. c. impairment. d. estimated useful life.
S31. One factor that is not considered in determining the useful life of an intangible asset is
a. salvage value. b. provisions for renewal or extension. c. legal life. d. expected actions of competitors.
32. Which intangible assets are amortized?