Identify Some of the Factors to Be Considered in Determining

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The Answer is Many factors are considered in determining the useful life of an intangible asset, including:
(a) the expected usage of the asset by the entity and whether the asset could be managed efficiently by another management team;
(b) typical product life cycles for the asset and public information on estimates of useful lives of similar assets that are used in a similar way;
(c) technical, technological, commercial or other types of obsolescence;
(d) the stability of the industry in which the asset operates and changes in the market demand for the products or services output from the asset;
(e) expected actions by competitors or potential competitors;
(f) the level of maintenance expenditure required to obtain the expected future economic benefits from the asset and the entity's ability and intention to reach such a level;
(g) the period of control over the asset and legal or similar limits on the use of the asset, such as the expiry dates of related leases; and
(h) whether the useful life of the asset is dependent on the useful life of other assets of the entity.

Identify Some of the Factors to Be Considered in Determining

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Identify Some of the Factors to Be Considered in Determining

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Correct Answer:
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