Every asset should have - WAEC Accounting 2016 Question
Every asset should have
A
a non-monetary value
B
tangible and intangible qualities
C
monetary cost and future benefit
D
an inadequate monetary value
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Correct Option: B
Tangible assets are physical in nature that can be either long-term or short-termassets. Intangible assets are long-term assets that are not physical, but rather, intellectual property. Both tangible and intangible assets are recorded on the balance sheet.
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