Identify the Following as a Fixed Asset (FA),Intangible Asset (IA),Natural

question 16

Short Answer

Identify the following as a Fixed Asset (FA),Intangible Asset (IA),Natural Resource (NR),or None of these (N).
(a) Computer
(b) Patent
(c) Oil reserve
(d) Goodwill
(e) U.S. Treasury note
(f) Land used for employee parking
(g) Gold mine

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Definitions:

Merchant

An individual or business that sells goods or services in a commercial transaction.

Commercial Fisherman's Coop

A cooperative organization established by commercial fishermen to provide mutual benefits such as marketing, purchasing supplies, and advocating for fishermen's interests.

Goods

Items or merchandise that are produced for sale or use.

Contract

A legally binding agreement between two or more parties that is enforceable by law.