Internally generated tangible assets:
A) are valued at their cost of manufacture or construction
B) are not subject to the impairment test
C) include patents trademarks and brand names
D) all of the above

Question

Quizplus · Accepted Answer

Internally generated tangible assets are valued at their cost of manufacture or construction. This includes items such as buildings, equipment, and machinery that are created or built within the company rather than purchased from an external source.

B) is incorrect because internally generated tangible assets are subject to the impairment test if they meet certain criteria, such as when there is a change in market conditions or the asset is no longer being used.

C) is incorrect because patents, trademarks, and brand names are considered intangible assets rather than tangible assets.

Internally Generated Tangible Assets