Assets with no physical form are ________.
A) current assets
B) intangible assets
C) not listed on the balance sheet because they have no value
D) included in owner's equity

Question

Quizplus · Accepted Answer

Assets with no physical form are called intangible assets. These include things like patents, trademarks, copyrights, and goodwill. They are listed on the balance sheet but are not physical in nature. Choices A, C, and D are incorrect as they do not accurately describe intangible assets. Current assets refer to assets that will be converted into cash within a year, assets with no value would not be listed on the balance sheet, and owner's equity includes the owner's investment in the business and retained earnings.

Assets with No Physical Form Are ________