Which of the Following Is an Example of an Intangible

question 78

Multiple Choice

Which of the following is an example of an intangible with an indefinite life?

• A)a copyright on a song
• B)a patent on a new technology
• C)the development costs of a new drug
• D)the goodwill value assigned to the excess purchase price when purchasing a company

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Definitions:

Account Calculations

The process of determining financial figures related to accounts, including balances, charges, and payments.

Greater Accuracy

Refers to a higher degree of precision or correctness in measurements, actions, or statements.

Automatic

Operating by itself with minimal or no human intervention, often referring to machinery, systems, or processes.

Double-Entry Bookkeeping System

An accounting method that records each transaction twice, once as a debit in one account and once as a credit in another, to ensure financial records balance.