USGAAP and IFRS Distinguish Three Categories of Long-Lived Assets for Purposes

Multiple Choice

U.S.GAAP and IFRS distinguish three categories of long-lived assets for purposes of measuring and recognizing impairment losses.The first category addresses long-lived assets except intangible assets not subject to amortization and goodwill. This category does not include:

A) property, plant, and equipment.
B) patents.
C) franchise rights.
D) land.
E) brand names and trademarks.