Identify each of the following long-term operational assets as either tangible (T) or intangible (I). a. 18-wheel
Question:
a. 18-wheel truck
b. Timber
c. Log loader
d. Dental chair
e. Goodwill
f. Computer software
g. Retail store building
h. Shelving for inventory
i. Trademark
j. Gas well
k. Drilling rig
l. FCC license for TV station
Goodwill
Goodwill is an important concept and terminology in accounting which means good reputation. The word goodwill is used at various places in accounting but it is recognized only at the time of a business combination. There are generally two types of...
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Related Book For
Fundamental financial accounting concepts
ISBN: 978-0078025365
8th edition
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward
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