Q129
Patent account falls under
A.
Investments
B.
Liabilities
C.
Current assets
D.
None of these
AnswerAnswer: Option D
Solution
Answer: Option D
Solution:
A patent is an amortizable, intangible asset that grants a business the sole right to manufacture and sell an invention. An intangible asset is a useful resource without any physical presence. The assets such as trademarks, copyrights, patents, goodwill etc are intangible assets.