QUESTION 3 a. b. C. "Intangible assets are business assets that have no physical form. Unlike a tangible asset, such as a computer, you can't see or touch an intangible asset." Discuss on the IAS 38 Intangible Assets. IAS 37 specify the criteria for provisions, contingent liabilities and contingent assets which must be met in order for a provision to be recognized. Discuss the differences of Provision, Contingent of Liabilities and Contingent of Assets according to IAS 37. In Malaysia, partnership entities governed under Partnership Act 1961 and corporation governed under Companies Act 2016. Explain the differences of accounting treatment between the both entities.