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Long-term assets are rights with value but no physical existence. Thesea re referred to as
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- Which of the following does describe intangible assets? They are not lack physical existence. They are financial instruments. They provide short-term benefits. They are classified as long-term assets.Which of the following does describe intangible assets? a. They are not lack physical existence. b. They are financial instruments. c. They provide short-term benefits. d. They are classified as long-term assets.The long term assets that have no physical existence but, possess a value is known as:A) Current assetsB) Fixed assetsC) Intangible assetsD) Investments
- An asset is said to be fully depreciated when:These include both tangible assets such as (b) and intangible assets such as (c). To pay for these assets, they sell (d) assets such as (e). The decision about ...___________ and __________ are examples of a depreciable asset, while ____________ and ____________ are examples of non-depreciable assets that can be used to generate business or property income.
- Materiality means that only items having a physical existence may be recognised as assetsDefine Long term assets and Short term assets? What are the differences between the two?Please explain Tangible and Intangible Assets. What are types of both? Also Intangible Assets are not depreciated but amortized. Please explain the difference. What kind of intangible assets are amortized? Do Tangible and Intangible Assets show up on the Balance Sheet, if they , is do please list the order they appear. For example Current Assets appear first and in order of liquidity is that correct? Please Show in order how Assets are recorded as well as explain the difference between Tangible and Intangible and what amortization is. Thanks!