Justification for Having Both Intangible Assets and Other Assets Listed

question 21

Multiple Choice

Justification for having both intangible assets and other assets listed on a balance sheet include

• A)that intangible assets have no physical existence and other assets are deferred charges
• B)that having more items listed on the balance sheet improves the users' understanding of the company
• C)that the intangible assets are more important than the tangible assets
• D)that the other asset classification is important because goodwill cannot be amortized, so it needs to be recorded on the balance sheet

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Definitions:

Domain Names

Identifiers for websites, acting as a readable address to help users locate and access them over the internet.

Mass Registration

The process of signing up or registering a large number of people or items simultaneously, often used in context with events, voting, or online services.

License

A formal permission or authorization granted by an authority to carry out specific activities that would be illegal without it, often used for businesses, drivers, or software.

Ownership Rights

Entitlements associated with owning property, including usage, disposal, and legal control over the property.