Intangible Assets Are the Rights and Privileges That Result from Ownership

question 68

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 depletable natural resources.
• C) have been exchanged at a gain.
• D) do not possess physical substance.

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Definitions:

Liability

The condition of being accountable for certain actions, particularly in the context of legal or monetary commitments.

Federal Securities Acts

Laws enacted by the U.S. federal government designed to regulate the securities industry and protect investors from fraudulent practices.

Significant Losses

Large or impactful financial, material, or reputational reductions experienced by individuals, organizations, or entities.

Private Securities Litigation Reform Act

A 1995 United States federal law that increased the standards for initiating securities fraud litigation to protect companies from frivolous lawsuits.