Which of the following is not a characteristic of an intangible asset?

An intangible asset is defined as a non-physical asset that has long-term value and can provide future economic benefits to a business. The characteristic identified as having physical presence directly contradicts the nature of intangible assets. Intangible assets, such as patents, trademarks, or goodwill, do not have a physical form; they exist in a conceptual or legal sense rather than a material one.

In contrast, the other characteristics of intangible assets include being non-material, which emphasizes their lack of physical presence, offering long-term benefits, and being subject to amortization, which is the process of gradually writing off the value of the asset over its useful life. Recognizing these characteristics is crucial for proper accounting and financial reporting of intangible assets, aligning with the broader principles of asset categorization in finance and accounting.