Natural Resources Are Long-Lived Productive Assets That Are Extracted in Operations

question 82

True/False

Natural resources are long-lived productive assets that are extracted in operations and are replaceable only by an act of nature.

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Definitions:

Intangible Assets

Assets that are not physical in nature, such as copyrights, patents, and trademarks, which have value for a business.

Patent

An exclusive right granted for an invention, which allows the patent holder to exclude others from making, using, or selling the invention for a certain period of time.

Intangible Assets

Assets that lack physical substance but are still valuable due to the rights or information they provide, such as patents, copyrights, and trademarks.

Trademark

A symbol, word, or phrase legally registered or established by use as representing a company or product.