It Is Not Necessary to Assign Dollar Values to Intangible

question 51

True/False

It is not necessary to assign dollar values to intangible costs and benefits; it is almost impossible to come up with reasonable numbers for all of the costs and benefits that haven't happened yet.

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Definitions:

Balance Sheet

A financial statement that reports a company's assets, liabilities, and shareholders’ equity at a specific point in time.

Liabilities

Financial obligations or debts a company owes to external parties or entities.

Statement of Cash Flows

A financial statement that provides aggregate data regarding all cash inflows and outflows a company receives from its ongoing operations, financial activities, and investment activities.

Balance Sheet

A financial statement that represents a company's assets, liabilities, and shareholders' equity at a specific point in time.