The lack of physical substance would therefore seem to be a defining characteristic of an intangible asset. Both the IASB and FASB definitions specifically preclude monetary assets in their definition of an intangible asset.
Leeches. Leech is a common name for over 650 species of largely freshwater, carnivorous worms that comprise the class Hirudinea in the phylum Annelida.
Is a worm classified as an insect? A: A worm is not classified as an insect because it does not contain the characteristics defined by the scientific classification system for insects. Worms are tubular and do not contain legs or properly segmented bodies, two characteristics needed for an insect classification. Continue Reading.