Which of the following is a characteristic of indefinite lived intangible assets?

Indefinite lived intangible assets are characterized by the fact that they do not have a specified useful life. This means that these assets are expected to provide value to the entity indefinitely, rather than being subject to a limited duration of usefulness.

As a result, they are not amortized like definite lived intangible assets, which have a finite life and are amortized over that period. Instead, indefinite lived intangible assets are tested for impairment at least annually to ensure that their carrying value does not exceed their fair value. The lack of a specified useful life is crucial in distinguishing these assets from those that are amortized based on their expected lifespan.

Other characteristics, such as having predictable return value or being exempt from impairment, do not accurately describe indefinite lived intangible assets. Such assets remain subject to impairment considerations, requiring ongoing evaluation of their fair value even though they aren't amortized. Thus, stating that they do not have a specified useful life captures the essence of what makes indefinite-lived intangible assets distinctive.