Which of the Following Is True Regarding the Type of Intangible

question 70

Multiple Choice

Which of the following is true regarding the type of intangible item that may constitute an asset?

• A)Goodwill,a company name,and a company logo all constitute types of intangible items that may constitute assets.
• B)Goodwill and a company name are types of intangible items that may constitute assets,but a company logo is not.
• C)A company name and a company logo are types of intangible items that may constitute assets,but goodwill is not.
• D)A company name is a type of intangible item that may constitute an asset,but goodwill and a company logo are not.
• E)Goodwill is a type of intangible item that may constitute an asset,but a company name and a company logo are not.

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Definitions:

Lower Of Cost

A principle requiring inventory to be recorded at the lower of its original cost or current market value, ensuring valuation is not overstated.