Intangible Assets Are Used in Operations but

question 27

Multiple Choice

Intangible assets are used in operations but

• A)cannot be specifically identified.
• B)cannot be sold.
• C)lack physical substance.
• D)cannot be long-lived.

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Definitions:

Office Supplies

Consumable items and equipment used in offices for daily operations, such as paper, pens, and printers.

Accommodation

Providing convenience or the act of furnishing something like a room or building for use or lodging.

Control Account

A summary account that consolidates detailed information held in subsidiary ledgers, simplifying the general ledger.

Subsidiary Accounts

Individual accounts contained within a general ledger, used to provide detailed information about a specific aspect of the business.