Which assets are measured as having an estimated life in excess of one year?

The rationale for choosing noncurrent assets is based on their definition and the characteristics that distinguish them from other asset categories. Noncurrent assets are those that are expected to provide economic benefits to a company for a period longer than one year. This includes fixed assets such as property, plant, and equipment, as well as long-term investments and certain intangible assets.

Noncurrent assets are critical for long-term financial stability and growth because they are not intended for short-term conversion into cash or to be consumed within a year. Instead, their value is often realized over several periods through their usage or through appreciation.

Current assets, by definition, are intended to be liquidated or consumed within one year, which is contrary to the concept of noncurrent assets. Investment assets could fall under both current and noncurrent categories depending on their expected holding period and liquidity. Intangible assets, while they can be long-lived, are a subset of noncurrent assets and do not encompass the broader category as a whole. Thus, the best answer that captures all assets with an estimated life beyond one year is noncurrent assets.