Match each statement with the correct term below.
-Intangible property
A)Land and structures permanently attached to land.
B)Property that lacks a physical existence.
C)Property that is used by the taxpayer for purely personal purposes.
D)Any property that has form, shape, and substance.
E)Property with a physical existence that is not real estate.
F)A single property used in more than one category.

Question

Quizplus · Accepted Answer

Intangible property refers to assets that do not have a physical existence but hold value, such as intellectual property, copyrights, and trademarks.

Match Each Statement with the Correct Term Below