Asked by Frank Milosevics on May 18, 2024
Verified
An intangible asset has no physical existence and no life.
Physical Existence
The actual, tangible presence of an asset, as opposed to intangible assets or rights.
- Differentiate between current assets and long-term assets and comprehend their display in financial statements.
Verified Answer
KW
Kendel WibbingMay 19, 2024
Final Answer :
False
Explanation :
An intangible asset has no physical existence, but it can have a finite or indefinite useful life, such as patents or trademarks.
Learning Objectives
- Differentiate between current assets and long-term assets and comprehend their display in financial statements.