AASB 138 requires that entities classify their intangible assets into those with finite lives and those with indefinite lives.Which of these is a factor that tends to limit the useful life of intangible assets?
A) Technological obsolescence
B) Contractual and legal rights
C) Uncertainty
D) All are factors

Question

Quizplus · Accepted Answer

All the options listed are factors that can limit the useful life of intangible assets. Technological obsolescence can make an intangible asset irrelevant, contractual and legal rights can impose a finite period of control or use, and uncertainty can affect the predictability and stability of the benefits derived from the asset.

AASB 138 Requires That Entities Classify Their Intangible Assets into Those