What is meant by Intangible assets? Give example.

Asked by Last Modified  

1 Answer

Learn Accountancy +1

Follow 1
Answer

Please enter your answer

Adventure Tutorials

An intangible asset is a non-physical asset having a useful life greater than one year. These assets are generally recognized as part of an acquisition, where the acquirer is allowed to assign some portion of the purchase price to acquired intangible assets. Few internally-generated intangible assets...
read more
An intangible asset is a non-physical asset having a useful life greater than one year. These assets are generally recognized as part of an acquisition, where the acquirer is allowed to assign some portion of the purchase price to acquired intangible assets. Few internally-generated intangible assets can be recognized on an entity's balance sheet. Examples of intangible assets are: Marketing-related intangible assets Trademarks Newspaper mastheads Internet domain names Non competition agreements Customer-related intangible assets Customer lists Order backlog Customer relationships. read less
Comments
Dislike Bookmark

Related Questions

Why are rules of debit and credit same for liability and capital?
According to the accounting entity concept, business is seperated from its owner.So the investment made by the owner (ie capital) is the fund that is to be repaid to the owner itself, at the very last...
Sanjay
0 0
5

X has made the following drawings during 2014-15. Calculate interest on drawings @90% .

1.Rs. 4000 withdrawn by X on the first day of every month with effect from 1-5-14 for four month

2. From September 2014 he withdraw RS 6000 pm in the middle for each month till December

3. On 1-2-15 he, withdrew RS 10000

4. On 31-3-15 he withdraw RS 5000.
Yes, the interest rest must be 9% to achieve the correct answer,. May be a typing mistake.
Shilpi
Which statement is prepared to know the profitability of the business?
Profitability of a business entity can be estimated through trading p&l account. Where trading account states the gross profit and p&l account states the net profit earned by the entity.
Sumit
0 0
8

What is matching concept in acvount? 
Cost should match with revenue for that period
Harender
What is meant by Capital?
In simple terms any thing bring by the owner of business to start the business activity or for investing
Arati Chaudhari
0 0
8

Now ask question in any of the 1000+ Categories, and get Answers from Tutors and Trainers on UrbanPro.com

Ask a Question

Related Lessons

Handling Bill Discounting and Dishonour

Shashi Shankar

0 0
0
What is Capital Expenditure
Capital expenditure refers to the spending by a company or organization on acquiring, upgrading, or maintaining physical assets such as property, equipment, or infrastructure. These expenditures are typically...

Subhash Chandra

1 0
0
Distinguishing Between Provisions and Reserves

Shashi Shankar

0 0
0
Accruals Accounting
Accruals in Accounting are the expenses or revenues that have been recorded by the firm but not yet realised. In simple terms, they are the financial transactions already estimated in the current accounting...

Nitin Saraswat

1 0
0
The Lifeblood of Accounting
The Accounting Equation: The Lifeblood of Accounting In the world of accountancy, the accounting equation is like the heart that keeps the system alive. Just as the human body relies on the circulatory...

Amal Anil

0 0
0

Recommended Articles

Science, Arts Or Commerce - Which One To Go For?

Once over with the tenth board exams, a heavy percentage of students remain confused between the three academic streams they have to choose from - science, arts or commerce. Some are confident enough to take a call on this much in advance. But there is no worry if as a student you take time to make choice between - science,...

Read full article >

6 Healthy Habits of School Children

While schools provide formal education to the children, the home is where they start learning about things informally. Parents think that schools will take the initiative to educate their children. Well, this is partially true, as parents also play an essential role in bringing up their child. For the development of particular...

Read full article >

6 Exam Hall Tips To Follow, For Every Good Student

Appearing for exams could be stressful for students. Even though they might have prepared well, they could suffer from anxiety, tension etc. These are not good for their health and mind. However, following a few exam preparation tips can save them from all these and help them to score good marks. Let’s find out all...

Read full article >

The Trend of E-learning and it’s Benefits

E-learning is not just about delivering lessons online. It has a much broader scope that goes beyond manual paper or PowerPoint Presentations. To understand the reach of E-learning and how the whole process works in developing the Educational system, we will discuss a few points here. Let us find out how this new learning...

Read full article >

Find Class 11 Tuition near you
Class 11 Tuition in Delhi
Class 11 Tuition in Bangalore
Class 11 Tuition in Kolkata
Class 11 Tuition in Hyderabad
Class 11 Tuition in Mumbai
Class 11 Tuition in Chennai
Class 11 Tuition in Pune
Class 11 Tuition in Gurgaon
Class 11 Tuition in Noida
Class 11 Tuition in Ghaziabad

Looking for Class 11 Tuition ?

Learn from the Best Tutors on UrbanPro

Are you a Tutor or Training Institute?

Join UrbanPro Today to find students near you