Intangible Assets Include Which of the Following

question 105

Multiple Choice

Intangible assets include which of the following?

• A) Trade receivables, franchises, and trademarks.
• B) Copyrights, licences, and land.
• C) Buildings, patents, and trademarks.
• D) Leaseholds, patents, and copyrights.

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Definitions:

Financial Statement

A written report which quantitatively describes the financial health of a company, including balance sheets, income statements, and cash flow statements.

Normal Balance

The side of the account (debit or credit) on which increases to the account are recorded.

Gross Method

An accounting practice where invoice transactions are recorded at their full, or gross, amounts before any discounts are applied.