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Question
Why Are Intangible Assets Important?
Why Are Intangible Assets Important?
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Solution
Intangible assets act as a source of competitive advantage for the business, it is also important for creating stakeholder value and customer value. The reputation of a business which is often determined by goodwill and brand recognition is essential for driving sales, building trust with the brand and improving customer loyalty.
Also read:
- Intangible Assets
- Tangible Assets
- Difference Between Assets and Liabilities
- Methods of Valuation of Goodwill
Stay connected with BYJU’S for more such questions and answers on various commerce topics.
Intangible assets act as a source of competitive advantage for the business, it is also important for creating stakeholder value and customer value. The reputation of a business which is often determined by goodwill and brand recognition is essential for driving sales, building trust with the brand and improving customer loyalty.
Also read:
- Intangible Assets
- Tangible Assets
- Difference Between Assets and Liabilities
- Methods of Valuation of Goodwill
Stay connected with BYJU’S for more such questions and answers on various commerce topics.
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