All assets having any future benefit to the company will be disclosed on the Balance Sheet.

Question

Quizplus · Accepted Answer

Not all assets with future benefits are recognized on the balance sheet due to accounting principles requiring assets to meet certain criteria (e.g., measurability, relevance, reliability) before they can be recognized. For example, internally generated goodwill and brand recognition are not recorded as assets on the balance sheet.

All Assets Having Any Future Benefit to the Company Will