Which of the following statements is correct?

A. Items in a company's inventory that are not expected to be sold in the next year are considered long-lived assets.

B. Amortization of intangible assets is always recorded in a contra asset account.

C..All long-lived intangible assets must be amortized over a period of 40 years or less.

D.Intangible assets with unlimited or indefinite lives are not amortized.