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Generally speaking in laymen's terms, if it's not something you could buy at a garage sale, then it's an intangible asset. An intangible isbasically something that exists on paper. For example,a movie's filmis tangible, but the rightsto the movie (distribution, reproduction, etc.)is something that exists only on paper.
In technical terms, it's a contract-based intangible asset.
What else can I help you with?
Is Loaning money to another company through a promissory note an asset source transaction?
FALSE
Wording for promissory note?
wording for promissory note with collateral
Is a promissory note valid with no consideration?
No....a promissory note is not valid without a consideration.
Is goodwill a tangible asset?
goodwill must be treated as tangible asset because it holds great value for the company. but analysts treat as an intangible asset .
If you have a promissory note based on a business loan and you file bankruptcy on that business loan is the promissory note still valid?
Even though you file bankruptcy, you still have to honor the promissory note. If you are ordered to make installment payments then you will have to pay the promissory note in installments.
Types of tangible assets?
Tangible assets are assets that have a physical presence. Examples might be a desk, a computer or a building. This is in contrast to intangible assets that cannot be held in your hand, like accounts receivable, a copyright, trademark, patent, trade secret, or product designs. Sometimes there can be a tangible embodiment of an intangible asset, such as a trademark registration certificate or a promissory note, but the underlying asset is still intangible.
Is Loaning money to another company through a promissory note an asset source transaction?
FALSE
Is livestock in case of mixed farming fixed asset or current asset or wasting asset or tangible asset?
Tangible asset
Is cash an intangible asset?
Cash is a tangible asset. Unlike something without tangible substance such as goodwill, cash is a hard or a tangible asset.
Wording for promissory note?
wording for promissory note with collateral
How do you input a journal entry for the sale of equipment to include a 90 day promissary note?
Debit promissory noteCredit sale of asset
What Types of fixed asset?
1)Tangible fixed asset 2)Intangible fixed asset 1)Tangible fixed asset 2)Intangible fixed asset
Is a promissory note valid with no consideration?
No....a promissory note is not valid without a consideration.
How can you use the word promissory in a sentence?
She signed a promissory note as a commitment to repay the loan on time.
Is a prepaid asset considered an intangible asset?
No. A prepaid asset is an asset that May be Tangible or Intangible, but is not yet 'in service'. When it is acquired and in service, is when it may be determined if it is Tangible or Intangible.
If a borrower dies with a promissory note are heirs responsible for payment?
They are not personally liable, except in the sense that the assets in the estate must be used to pay the promissory note. Thus there will that much less in the estate for them to inherit. If there are insufficient asset to pay the debt, then the holder of the note loses out on the amount that cannot be paid out of the estate.
Is a savings bank CD a tangible asset?
Yes, CDs are considered a tangible, personal asset of the individual that owns it.
