In which category do Patents and copyrig

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Target Exam

CUET

Subject

-- Accountancy Part B

Chapter

Financial Statements of a Company

Question:

In which category do Patents and copyrights fall?

Options:

Current Assets

Liquid Assets

Intangible Assets

None of these

Correct Answer:

Intangible Assets

Explanation:

The correct answer is option 3- Intangible Assets.

Under Intangible Assets Patents and copyrights fall.

Copyrights, patents and trademarks (collectively, “intellectual Property”) are examples of intangible assets.