Intangible Assets Are the Rights and Privileges That Result from Ownership

question 131

Multiple Choice

Intangible assets are the rights and privileges that result from ownership of long-lived assets that

• A)must be generated internally.
• B)are depreciated over their useful life.
• C)have been exchanged at a gain.
• D)do not have physical substance.

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Definitions:

Behavioral Economics

A field of economics that examines how psychological, social, cognitive, and emotional factors affect economic decisions of individuals and institutions.

Anchoring

The tendency people have to unconsciously base, or “anchor,” the valuation of an item they are currently thinking about on recently considered but logically irrelevant information.

Decision Making

The process of selecting the best course of action from several alternatives to achieve a desired goal.

Irrelevant Information

Data or facts that do not influence decision-making processes in a given context, lacking value for the question or decision at hand.