Question

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.

Answer 1

b. limited-life or indefinite-life.

Step-by-step explanation:

As we know that as per current accounting practice, intangible assets are classified as Limited-life or indefinite-life.