Which of the following describes the appropriate accounting for intangible assets with finite useful lives?

A. The cost of the asset is amortized over its useful life and the asset is periodically tested for impairment.

B. The cost of the asset is amortized over its useful life and the asset is never tested for impairment.

C. The cost of the asset is amortized over 40 years.

D. The cost of the asset is not amortized but is periodically tested for impairment.

Which of the following describes the appropriate accounting for intangible assets with finite useful lives? The cost of the asset is amortized over its useful life and the asset is periodically tested for impairment. The cost of the asset is amortized over its useful life and the asset is never tested for impairment. The cost of the asset is amortized over 40 years. The cost of the asset is not amortized but is periodically tested for impairment