Intangible Assets Are

question 69

Multiple Choice

Intangible assets are:

• A)goodwill, patents, copyrights, and trademarks.
• B)property, plant, and equipment.
• C)all assets except current assets.
• D)those assets that an owner can purchase with cash only.

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Definitions:

Raw Material Purchases

The total cost of raw materials bought by a company for use in production during a specific time period.

Budgeted Sales

Projected sales figures used for planning and forecasting in business operations.

Credit Sales

Credit sales are transactions where goods or services are provided to a customer with the agreement that payment will be made at a later date.

Finished Goods Inventory

Inventory of finished goods available for sale to consumers.