A key characteristic that separates intangible assets from assets such as property, plant and equipment is:

A) length of useful life.
B) separability.
C) reliability.
D) lack of physical substance.

Intangible Assets

Assets that lack physical substance, like copyrights, patents, trademarks, and goodwill.

Physical Substance

A characteristic referring to the tangible nature of an asset, implying it has a material existence.

Separability

The ability to isolate and measure an asset or liability from the entity that owns it, for accounting or valuation purposes.