Intangible assets have three main characteristics: identifiable, non - physical existence, and non - financial assets. Some
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Question:
Intangible assets have three main characteristics: identifiable, nonphysical existence, and nonfinancial assets. Some intangible assets have a limited useful life, and some have unlimited useful life.
Required:
i Discuss why intangible assets are categorized as assets despite having no physical substance.
ii Give ONE example of an intangible asset with a definite useful life and ONE example of an intangible asset with an indefinite useful life.
iii Explain how the intangible asset should be recorded and disclosed after the recognition
Related Book For
Computer Architecture Fundamentals And Principles Of Computer Design
ISBN: 9781032097336
2nd Edition
Authors: Joseph D. Dumas II
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