Intangible assets are the rights and privileges that result from ownership of assets that
A) must be generated internally.
B) benefit only the current period.
C) have physical substance.
D) do not have physical substance.

Question

Quizplus · Accepted Answer

Intangible assets are characterized by their lack of physical substance, unlike tangible assets which have a physical form. They represent rights and privileges that can provide future economic benefits.

Intangible Assets Are the Rights and Privileges That Result from Ownership