Intangible assets are the rights and privileges that result from ownership of long-lived assets that
A)must be generated internally.
B)are depreciated over their useful life.
C)have been exchanged at a gain.
D)do not have physical substance.

Question

Quizplus · Accepted Answer

Intangible assets are characterized by their lack of physical substance, unlike tangible assets such as machinery or buildings. They include items like patents, trademarks, and goodwill.

Intangible Assets Are the Rights and Privileges That Result from Ownership