Question: An intangible asset O is worthless because it has no physical substance. O derives its value from the rights and privileges it provides the owner.

An intangible asset O is worthless because it has no physical

An intangible asset O is worthless because it has no physical substance. O derives its value from the rights and privileges it provides the owner. O is converted into a tangible asset during the operating cycle. O cannot be classified on the balance sheet because it lacks physical substance

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