Which of the Following Intangible Assets Should Be Recognised in the Balance

question 53

Multiple Choice

Which of the following intangible assets should be recognised in the balance sheet?

• A) Internally generated goodwill in excess of recoverable amount.
• B) Licenses with active market.
• C) Purchased trademark.
• D) All of the given answers.
• E) Licenses with active market and purchased trademark.

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Definitions:

Plumbing Repair

Refers to the services and actions taken to fix, maintain, or install water, gas, and sewage systems in residential or commercial properties.

Rental Income

Revenue generated by leasing property or equipment.

Primarily Rental

Pertaining to the use of property mainly for rental purposes, which may affect the tax treatment of income and expenses related to the property.

Primarily Personal

This term typically pertains to expenses or activities that are mainly for personal benefit, and therefore, not deductible for tax purposes if related to business.