New Ventures Corp Which Statement Is Correct?
A)Both of These Assets Will Have

Multiple Choice

New Ventures Corp., a publicly accountable entity, capitalized the following costs: $$\begin{array} { | l | r | r | } \hline & \text { Jan 1 - April 30, 2021 } & \text { May 1 - Dec. 31, 2021 } \\\hline \text { Patents } & 10,000 & 12,000 \\\hline \text { Copyrights } & 15,000 & 32,000 \\\hline\end{array}$$ Which statement is correct?

A) Both of these assets will have an indefinite useful life.
B) Both of these assets will have a definite useful life.
C) For both assets, the useful life will be equal to the asset's legal life.
D) For both assets, the useful life could be shorter than its legal life.