Andrea is preparing her homework for her accounting class. She is uncertain as to the proper

handling of patents and copyrights on a firm's financial statements. Which of the following is correct?

A-Patents and copyrights are included with the firm's intangible assets on the balance sheet.

B-Patents and copyrights are included with the firm's long-term liabilities on the balance sheet.

C-Patents and copyrights are included with the firm's fixed assets on the balance sheet.

D-Patents and copyrights are included with the firm's cost of goods sold on the income statement.