Which One of the Following Is an Intangible Fixed Asset

question 77

Multiple Choice

Which one of the following is an intangible fixed asset?

• A)accounts receivable
• B)patent
• C)inventory
• D)equipment
• E)building

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Definitions:

Bonds Outstanding Method

The bonds outstanding method is an approach to calculating interest expense on bonds payable that considers the total value of all bonds that have not yet been redeemed by the issuer.

Serial Bonds

Bonds that mature in installments over a period rather than having a single maturity date.

IFRS

International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board that serve as a global framework for preparing financial statements.

GAAP

Generally Accepted Accounting Principles, a common set of accounting rules and standards used in the United States for financial reporting.