Asked by chante mentoor on May 01, 2024
Verified
Reputation of a company
A) Patent
B) Copyright
C) Trademark
D) Goodwill
Goodwill
An intangible asset that represents the value of a company's brand name, customer relationships, and other non-physical assets that contribute to earnings.
Patent
A legal right granted to an inventor or assignee to exclude others from making, using, or selling an invention for a certain number of years.
Copyright
A legal right granted to an author, composer, playwright, publisher, or distributor to exclusive publication, production, sale, or distribution of their original work.
- Identify the method and category used in accounting for intangible assets.
Verified Answer
ZK
Zybrea KnightMay 04, 2024
Final Answer :
D
Explanation :
Goodwill is the intangible asset that reflects the value of a company's brand name, reputation, customer base, etc. The other options (patent, copyright, trademark) refer to specific legal protections for intellectual property.
Learning Objectives
- Identify the method and category used in accounting for intangible assets.