Can anyone help me with these simple problems?

Thanks for your help in advance!

2. Which of the following statements Is correct? O All long-lived Intangible assets must be amortized over a perlod of 40 years or less. O ntangible assets with unlimited or indefinite lives are not amortized O Items In a company's Inventory that are not expected to be sold In the next year are consldered long-llved assets. O Amortization of Intangible assets ls always recorded In a contra asset account