Which of the following intangible assets should be shown as a separate item on the statement of financial position?
A) Goodwill
B) Franchise
C) Patent
D) Trademark

Question

Quizplus · Accepted Answer

Goodwill should be shown as a separate item on the statement of financial position as it represents the excess amount paid for an acquired business over its net assets. Franchise, patent, and trademark are all intangible assets but may or may not be shown separately depending on their individual significance and materiality.

Which of the Following Intangible Assets Should Be Shown as a Separate