Which of the Following Would Be Classified as an Intangible

question 53

Multiple Choice

Which of the following would be classified as an intangible asset?

• A)land held for future use
• B)machinery
• C)trademark
• D)inventory

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Definitions:

Operating Income

Income generated from normal business operations, excluding revenues and expenses from non-operating activities.

Income Tax Rate

The proportion of income that is subject to taxation for a person or a company.

Consolidated Income Tax Return

A single income tax return filed for a group of related corporations, consolidating their tax liabilities.

Ownership

The state or fact of legal possession and control over property, which includes the rights to use, sell, or lease it.