Examlex
________ is the set of characteristics of a given group of people and their environment and includes components like norms, values, habits, education and religion.
Intangible Assets
Intangible assets are non-physical assets owned by a company that have a useful life and provide future economic benefits, such as patents, trademarks, and goodwill.
Physical Form
Physical form refers to the tangible appearance or structure of an item, indicating its material composition and physical characteristics.
Long-term
Pertains to assets, liabilities, investments, or obligations that are expected to be resolved or realized beyond one year.
Income Summary
The income summary account is used in the closing process of accounting to summarize revenue and expenses for a specific period, helping determine the net income or loss.
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