A consideration in determining the useful life of an intangible asset is not the:

Question

Quizplus · Accepted Answer

The initial cost of an intangible asset does not affect its useful life. The useful life is determined by factors such as legal, regulatory, or contractual provisions, provisions for renewal or extension, and expected actions of competitors, which can influence the period over which the asset will generate economic benefits for the entity.

A Consideration in Determining the Useful Life of an Intangible