Because intangible assets have no physical form: A. they are not subject to the recognition criteria of other assets and may be recorded if they satisfy the three elements of the definition. B. they must be expensed immediately, as assets must be able to be measured. C. they have no real value and should be excluded from accounting reports. D. none of the given answers is correct
Because intangible assets have no physical form: A. they are not subject to the recognition criteria of other assets and may be recorded if they satisfy the three elements of the definition. B. they must be expensed immediately, as assets must be able to be measured. C. they have no real value and should be excluded from accounting reports. D. none of the given answers is correct
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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4. Because intangible assets have no physical form:
A. they are not subject to the recognition criteria of other assets and may be recorded if they satisfy the three elements of the definition.
B. they must be expensed immediately, as assets must be able to be measured.
C. they have no real value and should be excluded from accounting reports.
D. none of the given answers is correct.
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