Patents and copyrights are classified as ___________ on the Balance Sheet.
A)Fixed assets
B)Intangible assets
C)Current assets
D)Owners' equity

Name: Patents and copyrights are classified as ___________ on the Balance Sheet. A)Fixed assets B)Intangible assets C)Current assets D)Owners' equity
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Question

Quizplus · Accepted Answer

Patents and copyrights are intangible assets, meaning they have value but do not have a physical form. This is why they are classified under intangible assets on the balance sheet.

Patents and Copyrights Are Classified as ___________ on the Balance