CA CPT Exam > CA CPT Questions > Assets which cannot be physically touched are...
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Assets which cannot be physically touched are termed as___________
- a)Intangible assets
- b)Tangible assets
- c)Airplanes
- d)None of the given options
Correct answer is option 'A'. Can you explain this answer?
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Assets which cannot be physically touched are termed as___________a)In...
Intangible Assets Explanation
- Definition: Intangible assets are assets that lack physical substance and cannot be touched.
- Examples: Examples of intangible assets include patents, trademarks, copyrights, and goodwill.
- Value: Intangible assets are valuable because they represent intellectual property and competitive advantages.
- Recognition: Intangible assets are recognized in the balance sheet if they meet specific criteria, such as being identifiable and separable.
- Importance: Intangible assets are increasingly important in today's knowledge-based economy, as companies focus on innovation and brand building.
Most Upvoted Answer
Assets which cannot be physically touched are termed as___________a)In...
Intangible assets are those assets which we can't see or touch it.
ex- goodwill, patent & trademark
ex- goodwill, patent & trademark
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Assets which cannot be physically touched are termed as___________a)In...
Understanding Intangible Assets
Intangible assets are vital components of a company's financial structure. These assets are non-physical and provide value to an entity, but they cannot be touched or physically measured. Here’s a deeper look into intangible assets:
Definition of Intangible Assets
- Intangible assets are defined as non-physical assets that have value due to the rights and privileges they confer to a business.
Examples of Intangible Assets
- Goodwill: Represents the reputation of a company and its ability to generate income above the normal return.
- Patents: Legal rights granted for inventions, allowing the holder exclusive use for a specified period.
- Trademarks: Distinctive signs, logos, or phrases that identify and distinguish products or services.
- Copyrights: Rights that protect original works of authorship, including literature, music, and art.
Importance of Intangible Assets
- Competitive Advantage: Intangible assets can provide a significant edge over competitors by enhancing brand recognition and customer loyalty.
- Valuation: They often play a crucial role in mergers and acquisitions, as their value can significantly impact the overall worth of a company.
- Revenue Generation: These assets can generate revenue through licensing, royalties, or as a part of the business strategy.
Conclusion
In summary, the correct answer to the question regarding assets that cannot be physically touched is indeed option 'A', Intangible Assets. Understanding this concept is essential for anyone studying financial management or accounting, particularly in courses like CA CPT.
Intangible assets are vital components of a company's financial structure. These assets are non-physical and provide value to an entity, but they cannot be touched or physically measured. Here’s a deeper look into intangible assets:
Definition of Intangible Assets
- Intangible assets are defined as non-physical assets that have value due to the rights and privileges they confer to a business.
Examples of Intangible Assets
- Goodwill: Represents the reputation of a company and its ability to generate income above the normal return.
- Patents: Legal rights granted for inventions, allowing the holder exclusive use for a specified period.
- Trademarks: Distinctive signs, logos, or phrases that identify and distinguish products or services.
- Copyrights: Rights that protect original works of authorship, including literature, music, and art.
Importance of Intangible Assets
- Competitive Advantage: Intangible assets can provide a significant edge over competitors by enhancing brand recognition and customer loyalty.
- Valuation: They often play a crucial role in mergers and acquisitions, as their value can significantly impact the overall worth of a company.
- Revenue Generation: These assets can generate revenue through licensing, royalties, or as a part of the business strategy.
Conclusion
In summary, the correct answer to the question regarding assets that cannot be physically touched is indeed option 'A', Intangible Assets. Understanding this concept is essential for anyone studying financial management or accounting, particularly in courses like CA CPT.
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Assets which cannot be physically touched are termed as___________a)Intangible assetsb)Tangible assetsc)Airplanesd)None of the given optionsCorrect answer is option 'A'. Can you explain this answer?
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