Trade Names,customer Lists,and Goodwill Are Examples of Which Kinds of Assets

question 72

Multiple Choice

Trade names,customer lists,and goodwill are examples of which kinds of assets?

• A) Intangible assets
• B) Tangible assets
• C) Only current assets
• D) Only long-term assets

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Definitions:

Residual Value

The estimated value of an asset at the end of its useful life, reflecting what the asset is expected to be worth after it has been fully depreciated.

Useful Life

The estimated duration a tangible or intangible asset is expected to be utilized in operations before it is no longer useful.

Carrying Amount

The value of an asset or liability as recorded in a company's books, reflecting its cost minus any depreciation or amortization.