Match each of the following accounts with its proper account group from the groups listed below.

-Patents
A)Assets
B)Liabilities
C)Owner's Equity
D)Revenue
E)Expenses

Name: Match each of the following accounts with its proper account group from the groups listed below. -Patents A)Assets B)Liabilities C)Owner's Equity D)Revenue E)Expenses
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Question

Match each of the following accounts with its proper account group from the groups listed below.
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-Patents
A)Assets
B)Liabilities
C)Owner's Equity
D)Revenue
E)Expenses

Quizplus · Accepted Answer

Patents represent an asset for the company, as they have future economic benefits and can be used to generate revenue.

Match Each of the Following Accounts with Its Proper Account