Boulder Company owns a patent for a medical process that is no longer utilized due to more recent innovations in medical technology. How will Boulder Company report the patent in its financial statements?

Question 45 options:

	The company will not report the patent because it does not provide a future economic benefit.
	The company will report the patent in the non-operating section of the income statement.
	The company will report the patent in the non-current asset section of the balance sheet.
	The company will not report the patent because it is intangible, i.e., not a physical object.