The MegaBuck movie studio's name has become famous for adventure movies.Another studio once offered to buy the name for $20 million,but MegaBuck turned down the offer.The MegaBuck balance sheet will show:
A)Other Assets,valued at $20 million.
B)Other Assets,valued conservatively at $10 million.
C)Accounts Receivable,valued at $20 million.
D)The company's name will not be shown as an asset on the balance sheet.

Question

Quizplus · Accepted Answer

The company's name is not a tangible or measurable asset and therefore cannot be listed on the balance sheet. It is considered an intangible asset, but its value cannot be reliably measured or verified.

The MegaBuck Movie Studio's Name Has Become Famous for Adventure