Asked by
Peter Wolter
on Oct 28, 2024
Verified
Intangible assets are reported on the balance sheet as a current asset.
Intangible Assets
Non-physical assets that provide economic benefits to their owners, such as patents, copyrights, trademarks, and goodwill.
Balance Sheet
A financial statement that showcases a company's assets, liabilities, and stockholders' equity at a specific point in time.
Current Asset
Assets that are expected to be converted into cash, sold, or consumed within one year or the normal operating cycle of the business, whichever is longer.
- Discern between immediate assets and long-term holdings, understanding their manifestation in financial reporting.
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Learning Objectives
- Discern between immediate assets and long-term holdings, understanding their manifestation in financial reporting.