Intangible assets are the rights and privileges that result from ownership of assets that
A)must be generated internally.
B)benefit only the current period.
C)may have physical substance.
D)do not have physical substance.

Question

Quizplus · Accepted Answer

Intangible assets do not have physical substance, meaning they cannot be touched or seen. Examples include trademarks, patents, copyrights, and goodwill. They are valuable assets that provide the owner with certain rights and privileges. They may be generated internally or acquired through a purchase, but they do not necessarily benefit only the current period.

Intangible Assets Are the Rights and Privileges That Result from Ownership