Beckett has purchased a business and now has intangible assets.He has ______.
A)assets he cannot touch
B)to balance the books received with a plug amount and this is what it is called
C)patents, software programs, copyrights, trademarks, and/or brand names
D)property, plant, and equipment

Question

Quizplus · Accepted Answer

Intangible assets include patents, software programs, copyrights, trademarks, and/or brand names. These are assets that cannot be physically touched or seen but have value to the business. A and D are incorrect because not all intangible assets cannot be touched, and intangible assets are separate from property, plant, and equipment. B is incorrect because a "plug amount" refers to a difference in the balance sheet that needs to be adjusted, not an intangible asset.

Beckett Has Purchased a Business and Now Has Intangible Assets