What are intangible assets? Intangibles with Identifiable and non-identifiable economic life? Please explain

Q: What is an intangible asset? Provide some examples.

A: Intangible assets: These are the long-term assets which are not physical in nature, but possess…

Q: How can we determine the Acquisition of Fixed Assets?

A: Fixed Assets- Fixed Assets are those assets which are acquired for the purpose of: production or…

Q: How can be Preservation and Maintenance of the Property can be done?

A: Preservation and Maintenance of Property can be done as follows: The borrower of the property…

Q: Describe the accounting for various types of intangible assets.

A: Intangible assets:   These are the long-term assets which are not physical in nature, but possess…

Q: What are the long-term assets which do not have any physical existence? A. Intangible Assets B.…

A: Tangible Assets:These assets are physical, measurable Resources; like Property, Plant &…

Q: What are intangibles

A: Intangibles: As word refers as we can't touch or see it which means no physical existence .…

Q: Why is there a need to properly classify a property whether it is an investment or a property, plant…

A: Before making application treatment on property needs to be classification  It will makes proper…

Q: What is impairment in the context of intangible assets?

A: Non-physical assets without physical substance but with economic worth to a business or individual…

Q: What are the two main characteristics of intangibleassets?

A:

Q: What are some examples of tangible and intangible assets?

A: Introduction:- Assets are mainly categories into two types based on the existence. these are as…