Intangible assets is an assets that lacks physical substance; in contrast to physical assets, such as machinery and buildings. Intangible assets are usually very hard to evaluate. For example patents, copyright, goodwill , trademarks and trade names etc. To choose: Situation which would not support the auditor decision to control risk for audit of intangible assets.

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Chapter 14, Problem 14.18MCQ

To determine

Concept Introduction:

Intangible assets is an assets that lacks physical substance; in contrast to physical assets, such as machinery and buildings. Intangible assets are usually very hard to evaluate. For example patents, copyright, goodwill, trademarks and trade names etc.

To choose:Situation which would not support the auditor decision to control risk for audit of intangible assets.

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