Question

Intangible assets are the rights and privileges that result from ownership of long-lived assets that

a. must be generated internally.
b. are depreciated over their useful life.
c. have been exchanged at a gain.
d. do not have physical substance.

Answer 1

The option “D” do not have physical substance is the correct answer.

Step-by-step explanation:

Option “D” is correct because the intangible assets are those assets that do not have physical existence and a person can not touch it. For example, goodwill, patent, etc. While the tangible assets have physical existence and a person and touch it. For example, machinery, car, building, etc.