Companies Keep Track of Both Tangible and Intangible Assets

question 21

Multiple Choice

Companies keep track of both tangible and intangible assets. They keep track of _______ assets using the fixed asset subsidiary ledger.

• A) tangible
• B) intangible
• C) current
• D) noncurrent

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Definitions:

Implied Warranty

An unstated guarantee that a product or service will meet certain standards of quality and reliability.

Housing Codes

Regulations and standards established to ensure residential buildings are safe, sanitary, and suitable for occupants.

Reasonable Security

Measures taken to protect electronic personal and business data from unauthorized access or alteration, using methods considered appropriate and sufficient.

Uniform Residential

This refers to standardized forms or regulations pertaining to residential transactions or agreements, often aimed at simplifying legal processes.