Which of the following statements is true concerning intangible assets?
A)Intangible assets have no economic substance.
B)Intangible assets lack physical existence.
C)Intangible assets are listed in the Stockholders' Equity section of the balance sheet.
D)Intangible assets appear in the Current Assets section of the balance sheet.

Question

Quizplus · Accepted Answer

Intangible assets are assets that lack physical existence, such as patents, trademarks, and goodwill. They are typically listed in the Non-Current Assets section of the balance sheet, rather than the Current Assets section.

Which of the Following Statements Is True Concerning Intangible Assets