Intangible Assets Are Long-Term Resources That Benefit Business Operations That

question 118

True/False

Intangible assets are long-term resources that benefit business operations that usually lack physical form and have uncertain benefits.

---

Definitions:

Lender

An individual, institution, or entity that provides funds to another with the expectation that the funds will be repaid, often with interest.

Mortgage Owes

Refers to the outstanding balance or the amount still owed by a borrower on their mortgage loan.

Open Mortgage

A type of mortgage that can be paid off, in full or in part, at any time without penalty, offering flexibility in repayment.

Final Order of Foreclosure

A legal decision by a court to permanently transfer ownership of property from the borrower to the lender due to default on the mortgage.