Intangible assets have two main characteristics: (1) they lack physical existence, and (2) they are not financial instruments.

Instructions:

(a) Explain why intangible assets are classified as assets if they have no physical existence.

(b) Explain why intangible assets are not considered financial instruments.

Question

Intangible assets have two main characteristics: (1) they lack physical existence, and (2) they are not financial instruments.

Instructions:

(a) Explain why intangible assets are classified as assets if they have no physical existence.

(b) Explain why intangible assets are not considered financial instruments.

Quizplus · Accepted Answer

The Answer of Intangible assets have two main characteristics: (1) they lack physical existence, and (2) they are not financial instruments.

Instructions:

(a) Explain why intangible assets are classified as assets if they have no physical existence.

(b) Explain why intangible assets are not considered financial instruments.

Intangible Assets Have Two Main Characteristics: (1) They Lack Physical