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)are listed as intangible assets on the statement of financial position.
D)listed as a long-term investment on the statement of financial position.

Question

Quizplus · Accepted Answer

Long-lived assets without physical substance are classified as intangible assets on the statement of financial position. Examples include patents, trademarks, and goodwill. These assets are recognized due to their ability to generate economic benefits for the company over multiple periods.

Long-Lived Assets Without Physical Substance Are