Assume the Abner Company buys the New York Yankees baseball team for a very large amount of money. Indicate whether, under accounting rules, it should recognize any of the following as intangible assets after the purchase. If you believe the asset should be recognized, indicate if you think it has a definite or indefinite life:

A. The “franchise” that the New York Yankees have to play in the American League of Major League baseball. This franchise has no expiration date.

B. The value of having a coaching staff and management team in place.

All of these people are paid on a twice per month basis.

C. Contracts with baseball players. On average, these contracts have three years left as of the date of acquisition.

D. The logos and designs that are trademarks of the New York Yankees.

E. The loyalty of many fans of the New York Yankees.