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_____ is a residual interest or claim-that is, the owners (shareholders) of a firm have a claim on assets not required to meet the claims of creditors.
Intangible Assets
Assets that lack physical substance but possess economic value, such as patents, copyrights, and trademarks.
Copyright
The exclusive right to publish and sell a literary, artistic, or musical composition.
Long-Lived Assets
Assets with a useful life of more than one year, typically including property, plant, and equipment, which are used in the operations of a business.
Land Improvements
Enhancements made to a piece of land to increase its value or functionality, such as landscaping, fencing, and adding utilities.
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