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Consider the following: Statement 1#-Copyrights and patents are tangible assets that can be separately identified. Statement 2#-Purchased copyrights and patents are amortized on a straight

Consider the following:

Statement 1#-Copyrights and patents are tangible assets that can be separately identified.

Statement 2#-Purchased copyrights and patents are amortized on a straight line basis over 30 years.

Which one of these statements is true and why?

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