Long-Lived Assets That Are Intangible in Nature, Used in the Operations

question 59

True/False

Long-lived assets that are intangible in nature, used in the operations of the business, and not held for sale in the ordinary course of business are called fixed assets.

---

Definitions:

Performance IQ

A measure of a person's non-verbal and spatial abilities as part of an overall intelligence assessment.

Wechsler Adult Intelligence Scale

A standardized test designed to measure intelligence and cognitive ability in adults and older adolescents.

Stanford-Binet Intelligence Scale

An individually administered intelligence test that was revised from the Binet-Simon Scale, used to assess human intelligence.

Mental Age

A measure of an individual's mental aptitude based on the average age at which normal individuals achieve a certain level of performance.