Intangible assets

A) should be reported under the heading Property Plant and Equipment.
B) are not reported on the balance sheet because they lack physical substance.
C) should be reported as Current Assets on the balance sheet.
D) should be reported as a separate classification on the balance sheet.

Intangible Assets

Non-physical assets owned by a firm, such as copyrights, patents, trademarks, and goodwill, that have value and can generate future economic benefits.

Balance Sheet

An accounting document that lists a business's assets, liabilities, and the equity of its shareholders at a specific date.