Which of the Following Is an Intangible Asset

question 78

Multiple Choice

Which of the following is an intangible asset?

• A) plant and machinery
• B) goodwill
• C) building
• D) land

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Definitions:

Debit

An accounting entry that results in either an increase in assets or a decrease in liabilities on a company's balance sheet.

Credit

An accounting entry that increases liabilities or equity or decreases an asset or expense.

Underapplied Manufacturing Overhead

A situation where the allocated manufacturing overhead costs are less than the actual overhead costs.

Overapplied Manufacturing Overhead

Occurs when the amount of overhead applied to products or services exceeds the actual manufacturing overhead costs incurred.