Which of the following is most likely to be an intangible asset with an indefinite life?
A)Leasehold
B)Franchise
C)Patent
D)Goodwill

Question

Quizplus · Accepted Answer

Goodwill is an intangible asset that represents the excess of the purchase price over the fair value of identifiable net assets acquired in a business combination. It is not limited by a specific period of time and is expected to generate future economic benefits for an indefinite period. The other options have either a limited life or a specific expiration date.

Which of the Following Is Most Likely to Be an Intangible