Intangible assets
A) must be reported under the heading Property, Plant, and Equipment.
B) are not reported on the statement of financial position because they lack physical substance.
C) should be reported as Current Assets on the statement of financial position.
D) should be reported separately from Property, Plant, and Equipment.

Question

Quizplus · Accepted Answer

Intangible assets should be reported separately from Property, Plant, and Equipment on the statement of financial position because they lack physical substance but still provide future economic benefits.

Intangible Assets