Indicate which one of these statements is true.

(a) Since intangible assets lack physical substance, they need to be disclosed only in the notes to the financial statements.

(b) Goodwill should be reported as a contra account in the stockholders’ equity section.

(c) Totals of major classes of assets can be shown in the balance sheet, with asset details disclosed in the notes to the financial statements.

(d) Intangible assets are typically combined with plant assets and inventory and then shown in the property, plant, and equipment section.