Intangible Assets Are Long-Term Resources Used to Produce or Sell

question 132

Essay

Intangible assets are long-term resources used to produce or sell products and services; they generally lack ______________ and their benefits are highly ___________.

---

Definitions:

Policy Decision Making

The process by which governments or organizations establish rules, directives, and guidelines to influence and determine present and future decisions.

Interrelationships

Mutual or reciprocal relations between components within a system, indicating how they influence or interact with each other.

Cost Method

An accounting method used for recording investments, where the investment is recorded at its acquisition cost without recognizing periodic income but dividends received are recorded as income.