Intangible assets are classified on the balance sheet as:
A)long-term assets.
B)property, plant and equipment.
C)current assets.
D)a component of owner's equity.

Question

Quizplus · Accepted Answer

Intangible assets are non-physical assets that have a useful life of more than one year, making them long-term assets on the balance sheet. They are not classified as property, plant, and equipment, current assets, or a component of owner's equity. Examples include patents, copyrights, and trademarks.

Intangible Assets Are Classified on the Balance Sheet As