Which of the following terms is applied to long-term assets that have no physical substance and provide rights, privileges and special opportunities to businesses?
A) Current Assets
B) Intangible Assets
C) Natural Resources
D) Property, Plant and Equipment

Question

Quizplus · Accepted Answer

Intangible Assets are long-term assets that have no physical substance and provide rights, privileges and special opportunities to businesses. Current Assets are assets that are expected to be converted into cash within a year. Natural Resources are physical resources that can be depleted, such as oil and timber. Property, Plant and Equipment are tangible assets used in the production of goods and services.

Which of the Following Terms Is Applied to Long-Term Assets