Which of the following would typically be recorded as an intangible asset with a finite useful life?
A) franchises
B) trademarks
C) brand name
D) goodwill

Question

Quizplus · Accepted Answer

Franchises are intangible assets that have a finite useful life, as they expire after a certain period or when the franchise agreement terminates.

Answer: B) trademarks 
 Trademarks are also intangible assets that have a finite useful life, as they expire after a certain period of time or when the trademark is no longer in use.

Answer: C) brand name 
 While brand names are also intangible assets, they are typically not recorded as having a finite useful life since they can continue to hold value indefinitely as long as the brand is still recognized and valued by consumers.

Answer: D) goodwill 
 Goodwill is an intangible asset that does not have a finite useful life because it represents the value of a business's reputation, customer relationships, and other intangible factors that can continue to generate economic benefits for the business indefinitely.

Which of the Following Would Typically Be Recorded as an Intangible