Which of the following does not describe intangible assets?
A) They lack physical existence.
B) They are financial instruments.
C) They provide long-term benefits.
D) They are classified as long-term assets.

Question

Quizplus · Accepted Answer

Intangible assets are assets that lack physical existence but have long-term benefits. They are classified as long-term assets and include items such as patents, trademarks, and copyrights. They are not financial instruments, which include items such as stocks and bonds.

Which of the Following Does Not Describe Intangible Assets