Which of the Following Is NOT Generally True of Intangible

question 3

Multiple Choice

Which of the following is NOT generally true of intangible assets and goodwill?

• A) Many major public companies have significant amounts of intangible assets and goodwill listed on their balance sheets.
• B) The major assets of today's information and service providers are likely to be tangible.
• C) The major assets of today's information and service providers are likely to be intangible.
• D) Since identifying and measuring intangibles and goodwill is often difficult, they are not always reported on the balance sheet.

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Definitions:

Indirect Method

A way of preparing a cash flow statement where net income is adjusted for changes in balance sheet accounts to reflect cash transactions.

Sale Of Fixed Assets

The process of selling long-term assets such as property, plant, and equipment for cash or other compensation.

Operating Activities

Business functions related to the core operations of a company, generating the majority of its revenue and expenses.

Accumulated Depreciation

The total amount of an asset's cost that has been expensed since the time it was put into use.