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What is Intangible?
Intangible means which are not visible. This means these do not exist physically. So, the values for a company which are important for it come under intangible account. Brand name of a company is an asset that a company requires, but it cannot be seen and it is an intangible asset or intangible account. Some assets in the category of intangible are –
- Corporate Intellectual Property – Patents, Copyrights, Trademarks, Business Methodologies
- Goodwill
- Brand Recognition
Now, you can easily guess that how tangible is different than intangible and how it is important for you. However, a student may confuse and if there is any confusion, then without any hesitation, you just need to take the services of Intangible accounts homework help.
What are its types?
You can easily get that there are two different types-
- Definite Intangible – If a company or business gets an agreement with some other company without having a fixed period, then it is known as definite account or definite asset.
- Indefinite intangible – This is long term or you can say that permanent asset of a company. For example, the brand name of a company is important and can easily provide the services.
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What are the terms you must know before you take an attempt to your assignments?
Some important terms are as-
- Credit
- Debit
- Tangible
- Intangible calculation
- Intangible personal property
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