Match each statement to the item listed below.
-Resources that provide a benefit over a number of years but which lack physical substance
A)Current assets
B)Current liabilities
C)Gross margin
D)Income from operations
E)Intangible assets
F)Long-term investments
G)Long-term liabilities
H)Net profit margin

Question

Quizplus · Accepted Answer

Intangible assets are resources that provide a benefit over a number of years but which lack physical substance. Examples include patents, trademarks, copyrights, and goodwill.

Answer: F
 Long-term investments such as stocks and bonds can provide a benefit over a number of years but lack physical substance.

Note: The other options listed are not resources that lack physical substance over a number of years. Current assets and current liabilities are short-term in nature and have physical substance. Gross margin, income from operations, and net profit margin are financial metrics and not resources. Long-term liabilities are financial obligations and not resources.

Match Each Statement to the Item Listed Below