An Intangible Asset

question 125

Multiple Choice

An intangible asset

• A)derives its value from the rights and privileges it provides the owner.
• B)is worthless because it has no physical substance.
• C)is converted into a tangible asset during the operating cycle.
• D)cannot be classified on the balance sheet because it lacks physical substance.

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Definitions:

Salvation Army

A Christian denominational church and international charitable organization known for its humanitarian aid work, including relief efforts for the poor and disaster victims.

Turn Of The Century

The transition from one century to the next; often used to specify the period around the 19th to 20th centuries, characterized by significant social and technological changes.

Eccentric

Characterized by unconventional or odd behavior, interests, or habits.

Modern Cities

Urban areas that are characterized by developed infrastructure, technological advancements, and diverse populations.