Long-lived assets without physical substance are
A)listed directly under current assets on the statement of financial position.
B)not listed on the statement of financial position because they do not have physical substance.
C)intangible assets.
D)listed as a long-term investment on the statement of financial position.

Question

Quizplus · Accepted Answer

Long-lived assets without physical substance are known as intangible assets, which are listed on the statement of financial position as a separate category of long-term assets. Examples of intangible assets include patents, trademarks, copyrights, and goodwill. They are not listed directly under current assets or as a long-term investment.

Long-Lived Assets Without Physical Substance Are