Intangible assets are certain nonphysical assets used in operations that confer on their owners' long-term righ privileges or competitive advantage. O True O False

Intangible assets do not include:   Multiple Choice   Patents.   Copyrights.   Trademarks.   Goodwill.   Land held as an investment.

Which of the following intangible assets should not be amortized? a. Copyrights b. Customer lists c. Perpetual franchises d. All of these intangible assets should be amortized.

Which of the following characteristics is most likely to diff erentiate investment propertyfrom property, plant, and equipment?A. It is tangible.B. It earns rent.C. It is long-lived.

A parcel of land is always a capital asset. True False

Which of the following features of an asset closely links its definition to the science of Economics? An asset is controlled by an entity An asset can provide future benefits to an entity An asset can command a price An asset is exclusively owned by an entity А. В. С. D.

Long-term assets are rights with value but no physical existence. Thesea re referred to as

Briefly discuss why research expenditure is expensed in profit orloss rather than capitalised as an intangible asset.

From an economic point of view, which activity is regarded as an undertaking to prevent a loss in value, rather than an activity undertaken to add value to the property? maintenance O modernization O rehabilitation O remodeling

An intangible asset is an asset that has no physical substance. Although it is not an asset that can be seen or touched, intangible assets are also valuable to an entity, and can influence its long-term performance. Several types of intangible assets are encountered in practice such as patent and trademark. Following are the statements related to intangible assets: (i) A sign which distinguishes the goods and services of one entity from those of another. (ii) A form of protection provided by the law to authors of original creative works, including literary works, musical works, artistic works, films, sound recordings, and broadcasts. (iii) The application of research findings or other knowledge to a plan or design for the production of new or substantially improved materials, devices, products, processes, systems or services before the start of commercial production or use. (iv) A method of marketing and distributing products and services based on a two-party contract. (v) An exclusive…