For each case above, decide whether an intangible asset arose from the event and how it might be valued. Justify your recommendation. Question content area bottom Part 1 Item a. A company has advanced $ 15 comma 750 comma 000 to an advertising agency to develop a branding strategy and advertisements for a new product it plans to launch next year. The cost of the advertising campaign cannot be treated as an intangible asset. As the advertising campaign has not been launched, this $ 15 comma 750 comma 000 is As a prepaid expense, an intangible asset, the full cost should be expensed in the fiscal period when the branding strategy is started. immediately included on the balance sheet