Identify the Intangible Asset

question 11

Multiple Choice

Identify the intangible asset.

• A)Brand name.
• B)Loan.
• C)Accounts payable.
• D)Inventory.

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Definitions:

Par Value

Par value is the face value of a bond or the stock value stated in the corporate charter, below which shares cannot be issued.

Installment Note Payable

A liability representing a loan that requires regular payments or installments over a specified period until the full principal and interest are paid.

Interest Expense

The amount an entity pays over time for the use of borrowed funds.

General Journal Entry

A general journal entry is a record of financial transactions in the accounting records of a business.