Intangible Property Is Property That

question 46

Multiple Choice

Intangible property is property that:

• A) is invisible and impossible to hold
• B) is tangible and concrete
• C) is not taxable
• D) is not for sale
• E) cannot be sold for profit

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Definitions:

Subsidiaries

Companies that are partially or fully owned by another company, which usually holds a controlling interest in the subsidiary's shares.

Accrual-based Net Income

Net income calculated under the accrual basis of accounting, recognizing revenues when earned and expenses when incurred, regardless of cash flow.

Domestic Corporations

Companies that are incorporated and operate within the legal jurisdiction of a specific country.

Accrual-based Net Income

The measure of an organization's earning power from ongoing operations, calculated by adding non-cash expenses and revenues booked but not paid to net income under cash accounting.