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
waec 2016accounting

The correct answer is B. tangible and intangible qualities

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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