Intangible assets are used in operations but
A)cannot be specifically identified.
B)cannot be sold.
C)lack physical substance.
D)cannot be long-lived.

Question

Quizplus · Accepted Answer

Intangible assets lack physical substance, but they can be specifically identified and can have a long life. Some intangible assets, like patents, trademarks, and copyrights, can be sold. Therefore, option C is the best choice.

Intangible Assets Are Used in Operations but