An Asset That Cannot Be Sold Separately in the Market

question 108

Multiple Choice

An asset that cannot be sold separately in the market place is

• A)a patent.
• B)goodwill.
• C)a copyright.
• D)a trade name.

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Definitions:

Balance Sheet Relationships

The connections and correlations between various items listed on a balance sheet, such as the relation between assets, liabilities, and shareholders' equity.

Allowance Method

The allowance method is an accounting technique that estimates uncollectible accounts receivable, adjusting for debts likely not to be collected.

90-Day Note

A short-term debt security that matures in 90 days, typically used in the financing of inventory, accounts receivable, or other short-term needs.

Note Receivable

Note Receivable is a financial asset representing a written promise to receive a specific amount of money from another party on a determined future date or dates.