Asked by Shanelle States on Jul 26, 2024
Verified
Intangible assets do not include:
A) Patents.
B) Copyrights.
C) Trademarks.
D) Goodwill.
E) Land held as an investment.
Intangible Assets
Assets that lack physical substance but possess economic value, including patents, trademarks, and goodwill.
Land Held
Land held pertains to property owned by an entity as an investment or for future use, not immediately purposed for business operations.
- Differentiate between tangible and intangible assets, including their classification and valuation.
Verified Answer
SI
soroor iraniJul 31, 2024
Final Answer :
E
Explanation :
Intangible assets are assets that lack physical substance, such as patents, copyrights, trademarks, and goodwill. Land held as an investment is a tangible asset, as it has physical substance.
Learning Objectives
- Differentiate between tangible and intangible assets, including their classification and valuation.