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) can be reported separately from Property, Plant, and Equipment.

Question

Quizplus · Accepted Answer

Intangible assets are reported separately from Property, Plant, and Equipment on the statement of financial position because they lack physical substance but still have value to the company. Examples include patents, copyrights, and trademarks.

Intangible Assets