The questions listed below are independent of one another.
Instructions
Provide a brief answer to each question.
(a) Why should a company depreciate its buildings?
(b) How can a company have a building that has a zero reported book value but substantial fair value?
(c) What are some examples of intangibles that you might find on your college campus?
(d) Give some examples of company or product trademarks or trade names. Are trade names and trademarks reported on a company’s balance sheet?