One way of looking at intangibles is, they are business assets that cannot be physically touched.
A balance sheet is a summary of a business’s assets, liabilities and equity.
Glossary of tax terms: capital gain/capital loss
In the tax world, the term “asset” often comes up. An asset can refer to a broad variety of property. For a business, the term “asset” typically means something the business purchases that has a useful life of more than one year (equipment or land, for example). For individuals, an asset typically means things like […]