ACC 304 All Assignments ACC 304 All Assignments | Page 202

22. Which of the following characteristics do intangible assets
possess?
a. Physical existence.
b. Claim to a specific amount of cash in the future.
c. Long-lived.
d. Held for resale.
23.
Which characteristic is not possessed by intangible assets?
a. Physical existence.
b. Short-lived.
c. Result in future benefits.