Intangible assets: An asset that has no physical appearance but has money value is termed as intangible assets. To determine the two main characteristics of intangible assets.

Question

Want to see more full solutions like this?

Answer 1

Question

Chapter 12, Problem 1Q

To determine

Intangible assets: An asset that has no physical appearance but has money value is termed as intangible assets.

To determine the two main characteristics of intangible assets.

Expert Solution & Answer

Explanation of Solution

Two Main Characteristics of Intangible assets are:

Lack physical existence: Tangible assets such as property, plant, and equipment have physical form. Intangible assets do not have a physical form. The worth of these assets is determined on the basis of the advantages granted to the company using them.
Non-financial instruments: Accounts receivable, bank deposits and long-term investments in bonds lack physical substance. But, they are not intangibles. Their value is determined by the right to get cash or cash equivalents in future.

Conclusion

Hence the two main characteristics of intangible assets are discussed.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

02:27

Students have asked these similar questions

Repsola is a drilling company that operates an offshore Oilfield in Feeland. Five yearsago, Feeland had a major oil discovery and granted licenses to drill oil to reputable,experienced drilling companies. The licensing agreement requires the company toremove the oil rig at the end of production and restore the seabed. Ninety percent ofthe eventual costs of undertaking the work relate to the removal of the oil rig andrestoration of damage caused by building it and ten percent arise through theextraction of the oil. At the Statement of Financial Position (SOFP) date (December 312025), the rig has been constructed but no oil has been extractedOn January 1st 2023, Repsola obtained the license to construct an oil rig at a cost of$500 million. Two years later the oil rig was completed. The rig is expected to beremoved in 20 years from the date of acquisition. The estimated eventual cost is 100million. The company’s cost of capital is 10% and its year end is December 31st. Repsolauses…

provide answer

hello teacher please help me

Answer 2

Question

Chapter 12, Problem 1Q

To determine

Intangible assets: An asset that has no physical appearance but has money value is termed as intangible assets.

To determine the two main characteristics of intangible assets.

Expert Solution & Answer

Explanation of Solution

Two Main Characteristics of Intangible assets are:

Lack physical existence: Tangible assets such as property, plant, and equipment have physical form. Intangible assets do not have a physical form. The worth of these assets is determined on the basis of the advantages granted to the company using them.
Non-financial instruments: Accounts receivable, bank deposits and long-term investments in bonds lack physical substance. But, they are not intangibles. Their value is determined by the right to get cash or cash equivalents in future.

Conclusion

Hence the two main characteristics of intangible assets are discussed.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

02:27

Answer 3

Question

Chapter 12, Problem 1Q

To determine

Intangible assets: An asset that has no physical appearance but has money value is termed as intangible assets.

To determine the two main characteristics of intangible assets.

Expert Solution & Answer

Explanation of Solution

Two Main Characteristics of Intangible assets are:

Lack physical existence: Tangible assets such as property, plant, and equipment have physical form. Intangible assets do not have a physical form. The worth of these assets is determined on the basis of the advantages granted to the company using them.
Non-financial instruments: Accounts receivable, bank deposits and long-term investments in bonds lack physical substance. But, they are not intangibles. Their value is determined by the right to get cash or cash equivalents in future.

Conclusion

Hence the two main characteristics of intangible assets are discussed.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

02:27

Answer 4

Question

Chapter 12, Problem 1Q

To determine

Intangible assets: An asset that has no physical appearance but has money value is termed as intangible assets.

To determine the two main characteristics of intangible assets.

Expert Solution & Answer

Explanation of Solution

Two Main Characteristics of Intangible assets are:

Lack physical existence: Tangible assets such as property, plant, and equipment have physical form. Intangible assets do not have a physical form. The worth of these assets is determined on the basis of the advantages granted to the company using them.
Non-financial instruments: Accounts receivable, bank deposits and long-term investments in bonds lack physical substance. But, they are not intangibles. Their value is determined by the right to get cash or cash equivalents in future.

Conclusion

Hence the two main characteristics of intangible assets are discussed.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

02:27

Answer 5

Chapter 12, Problem 1Q

To determine

Intangible assets: An asset that has no physical appearance but has money value is termed as intangible assets.

To determine the two main characteristics of intangible assets.

Expert Solution & Answer

Explanation of Solution

Two Main Characteristics of Intangible assets are:

Lack physical existence: Tangible assets such as property, plant, and equipment have physical form. Intangible assets do not have a physical form. The worth of these assets is determined on the basis of the advantages granted to the company using them.
Non-financial instruments: Accounts receivable, bank deposits and long-term investments in bonds lack physical substance. But, they are not intangibles. Their value is determined by the right to get cash or cash equivalents in future.

Conclusion

Hence the two main characteristics of intangible assets are discussed.

Answer 6

Chapter 12, Problem 1Q

To determine

Intangible assets: An asset that has no physical appearance but has money value is termed as intangible assets.

To determine the two main characteristics of intangible assets.

Expert Solution & Answer

Explanation of Solution

Two Main Characteristics of Intangible assets are:

Lack physical existence: Tangible assets such as property, plant, and equipment have physical form. Intangible assets do not have a physical form. The worth of these assets is determined on the basis of the advantages granted to the company using them.
Non-financial instruments: Accounts receivable, bank deposits and long-term investments in bonds lack physical substance. But, they are not intangibles. Their value is determined by the right to get cash or cash equivalents in future.

Conclusion

Hence the two main characteristics of intangible assets are discussed.

Answer 7

Chapter 12, Problem 1Q

To determine

Intangible assets: An asset that has no physical appearance but has money value is termed as intangible assets.

To determine the two main characteristics of intangible assets.

Answer 8

Expert Solution & Answer

Explanation of Solution

Two Main Characteristics of Intangible assets are:

Lack physical existence: Tangible assets such as property, plant, and equipment have physical form. Intangible assets do not have a physical form. The worth of these assets is determined on the basis of the advantages granted to the company using them.
Non-financial instruments: Accounts receivable, bank deposits and long-term investments in bonds lack physical substance. But, they are not intangibles. Their value is determined by the right to get cash or cash equivalents in future.