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What are the two main characteristics of intangible assets? Why does the accounting profession make a distinction...

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Accounting

What are the two main characteristics of intangibleassets?

Why does the accounting profession make a distinction betweeninternally created intangibles and purchased intangibles?

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Answer 1 Two main characteristics of intangible assets Intangible assets lack physical existence form Intangible assets does not have any physical form like tangle assets They are refer to the rights acquired by the entity in order to use them Intangible assets are    See Answer
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What are the two main characteristics of intangibleassets?Why does the accounting profession make a distinction betweeninternally created intangibles and purchased intangibles?

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