Asked by Travis Entwisle on Jun 30, 2024
Verified
Which of the following is true regarding the type of intangible item that may constitute an asset?
A) Goodwill, a company name, and a company logo all constitute types of intangible items that may constitute assets.
B) Goodwill and a company name are types of intangible items that may constitute assets, but a company logo is not.
C) Goodwill is a type of intangible item that may constitute an asset, but a company name and a company logo are not.
D) A company name is a type of intangible item that may constitute an asset, but goodwill and a company logo are not.
E) A company name and a company logo are types of intangible items that may constitute assets, but goodwill is not.
Goodwill
An intangible asset representing the value of a business's brand, customer base, reputation, and other non-physical factors.
Company Name
The legally registered name under which a business operates and is recognized.
Company Logo
A unique graphic symbol or emblem that identifies and represents a company, distinguishing it from others.
- Identify the importance of intangible assets in business transactions.
Verified Answer
ZK
Zybrea KnightJul 04, 2024
Final Answer :
A
Explanation :
Goodwill, a company name, and a company logo are all examples of intangible assets. These items can provide economic benefits to a company, such as brand recognition and customer loyalty, which is why they are considered assets.
Learning Objectives
- Identify the importance of intangible assets in business transactions.