Question

Intangible assets that are currently reported on the balance sheet​ include: A. organizational culture. B. the cost of a patent giving exclusive rights to a process. C. loyal and profitable customer relationships. D. employee skills and motivation.

Answer 1

Answer:

B. the cost of a patent giving exclusive rights to a process.

Explanation:

Intangible assets are non physical long term resources that meet the asset recognition criteria in that it is a resource controlled by an entity as a result of a past event for which future economic benefits will flow to the entity.  It must be reliably measurable.

Intangible assets that are currently reported on the balance sheet as non-current assets. These include trademark, copyrights, goodwill, patents etc.

Organizational culture, loyal and profitable customer relationships, employee skills and motivation are not attributes that are measurable.

Answer 2

Answer:

B. the cost of a patent giving exclusive rights to a process

Explanation:

Intangible assets are simply assets that cannot be touched physically. Unlike tangible assets, intangible assets are pretty much or rather relatively more difficult to estimate or evaluate. It may include patents, trade name, brand name, copyrights and so on. Intangible assets recorded on balance sheet include cost of patents giving exclusive rights to a process.