Because Intangible Assets Have No Physical Form

question 45

Multiple Choice

Because intangible assets have no physical form:

• A) They are not subject to the recognition criteria of other assets and may be recorded if they satisfy the three elements of the definition.
• B) They must be expensed immediately as assets must be able to be measured.
• C) They have no real value and should be excluded from accounting reports.
• D) They cannot be sold separately and must all be classified as unidentifiable.
• E) None of the given answers.

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Definitions:

Vial

A small glass bottle with a self-sealing rubber stopper.

Punctured

Having been pierced or perforated, often leading to the escape of contents from something such as a tire or balloon.

Intradermal

Pertaining to the administration of substances directly into the dermis layer of the skin.

Allergy

An immune system response to a foreign substance that's not typically harmful to the body, like pollen, food, or pet dander.