Which of the following is not a factor to be considered when determining the useful life of an intangible asset?
A) Legal, regulatory or contractual provisions.
B) The effects of obsolescence.
C) The expected use of the asset by the organization.
D) The fair value of the asset.
E) The level of maintenance expenditures that will be required to obtain expected future benefits.

Question

Quizplus · Accepted Answer

The fair value of the asset is not a factor in determining the useful life of an intangible asset. Useful life is determined by factors such as legal or contractual limits, obsolescence, expected use, and maintenance requirements.

Which of the Following Is Not a Factor to Be