_____ represent rights of a long-term nature, such as patent rights, copyrights, and goodwill.
A) Accrued revenues
B) Intangible assets
C) Retained earnings
D) Long-term liabilities

Question

Quizplus · Accepted Answer

Intangible assets represent non-physical assets that have a long-term value to a company, such as patents, copyrights, and goodwill. Accrued revenues represent revenues that have been earned but have not yet been received in cash. Retained earnings represent the portion of a company's net income that is kept by the company and not paid out as dividends. Long-term liabilities represent debts that are due more than one year in the future.

_____ Represent Rights of a Long-Term Nature, Such as Patent