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Which of the following assets has indefinite life?

a. land Improvements
b. patent
c. goodwill
d. copyright

User Chris Aung
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1 Answer

7 votes

Final answer:

A patent and copyright do not have indefinite life, unlike goodwill which can have indefinite life if maintained and not impaired.

Step-by-step explanation:

A patent grants the inventor the exclusive legal right to make, use, or sell an invention for a limited time. On the other hand, copyright laws give the author an exclusive legal right over works of literature, music, film/video, and pictures. Since patents and copyrights have a limited duration, neither of them has an indefinite life.

However, out of the options given, land improvements, patent, and copyright are all assets that have a limited life span. Goodwill, on the other hand, is an asset that does not have a specific limited period and can have indefinite life if maintained and not impaired.

User Yujun Wu
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