Long-term asset terms (Learning Objective 1) 5–10 min.

Identify each of the following assets as a fixed asset (F) or an intangible asset (I):

____ 1. Franchises ____ 2. Vehicles ____ 3. Buildings ____ 4. Furniture ____ 5. Patents ____ 6. Copyrights ____ 7. Trademarks ____ 8. Land improvements AppendixLO1