Which of the following is not a characteristic of intangible assets? Intangibles do not have physical substance. Intangibles are held for use in the ordinary course of business. Intangibles benefit more than one year. Intangibles have fixed determinable cash flows. Question 2 (1 point) Saved How does IFRS require that government grants for property, plant and equipment (PPE) be recorded? The government grant should be recorded using the income approach. The government grant should not be recorded using either the income or capital approach The government grant should be recorded using the capital approach. IFRS do not provide any guidance for recording government grant