Asked by Smitty Hendrix on Jun 15, 2024
Verified
Identify the following as a fixed asset (FA), or intangible asset (IA), natural resource (NR), or none of these (N).(a)computer
(b)patent
(c)oil reserve
(d)goodwill
(e)U.S. Treasury note
(f)land used for employee parking
(g)gold mine
Intangible Asset
An asset that is not physical in nature, such as patents, trademarks, and copyrights, having value due to its potential to generate economic benefits.
Natural Resource
Assets derived from the earth, such as minerals, forests, and water, which are used to produce goods and services.
- Gain insight into and differentiate the various kinds of assets, encompassing fixed, intangible, and natural resources.
Verified Answer
LR
Learning Objectives
- Gain insight into and differentiate the various kinds of assets, encompassing fixed, intangible, and natural resources.