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

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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.

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02:27

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Gabbana Manufacturing estimated that machine hours for the year would be 30,000 hours and overhead (all fixed) would be $150,000. Gabbana applies its overhead on the basis of machine hours. During the year, all overhead costs were exactly as planned ($150,000). There was $12,000 in over-applied overhead. How many machine-hours were worked during the period? Help

Accurate answer

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.

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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.

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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.