Stephanie Cape purchased a franchise for dry cleaning services.Stephanie is running the dry cleaning business as her primary occupation.Where on the balance sheet is the franchise reported?

Name: Stephanie Cape purchased a franchise for dry cleaning services.Stephanie is running the dry cleaning business as her primary occupation.Where on the balance sheet is the franchise reported?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Franchise is an intangible asset and it should be reported under the category of intangible assets on the balance sheet.

Stephanie Cape Purchased a Franchise for Dry Cleaning Services