Indicate whether or not each of the following items would be recognized as assets by a firm according to current generally accepted accounting principles.

a The cash received from a customer for goods to be delivered in a future accounting period.

b A contract signed by a customer to purchase $1,000 of goods next year.

c A favorable reputation.

d A patent on a new invention developed by a firm.

e A good credit standing.

f A delivery truck.

g A degree in engineering from a reputable university, awarded to the firm’s chief engineer.