Which of the following statement is true about intangible assets?
A) They are usually presented in the balance sheet as fixed assets.
B) They are short-lived assets.
C) They are not held for resale.
D) They have physical existence.

Question

Quizplus · Accepted Answer

Intangible assets are non-physical assets that are not held for resale, such as patents, trademarks, copyrights, and goodwill. They are usually presented in the balance sheet as long-term assets, not fixed assets. They may have a long-term lifespan and are not short-lived assets. They do not have physical existence, as they are simply legal rights or benefits.

Which of the Following Statement Is True About Intangible Assets