Which of the following items are part of Intangible non current Assets?
A. Patents
B. Furniture
C. Statement of Profit & Loss A/c (Dr.)
D. Goodwill
E. Trademark
Choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) - A, D and E only.
A. Patents- Intangible non current asset
B. Furniture- Tangible non current asset
C. Statement of Profit & Loss A/c (Dr)- Shown as negative balance in reserves and surplus
D. Goodwill- Intangible non current asset
E. Trademark- Intangible non current asset
An intangible non-current asset refers to an asset that does not have a physical presence but has long-term value for a company. These assets are expected to provide benefits over a period greater than one year and are not easily converted into cash.