Exercise 8-3A (Static) Classifying tangible and intangible assets LO 8-1 Required: Identify each of the following long-term operational assets as either tangible (T) or intangible (1). a. Pizza oven b. Land c. Franchise d. Filing cabinet e. Copyright f. Silver mine g. Office building h. Drill press 1. Patent J. Oil well k. Desk 1. Goodwill Answers

Exercise 8-3A (Static) Classifying tangible and intangible assets LO 8-1 Required: Identify each of the following long-term operational assets as either tangible (T) or intangible (1). a. Pizza oven b. Land c. Franchise d. Filing cabinet e. Copyright f. Silver mine g. Office building h. Drill press 1. Patent J. Oil well k. Desk 1. Goodwill Answers

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

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Exercise 8-3A (Static) Classifying tangible and intangible assets LO 8-1
Required:
Identify each of the following long-term operational assets as either tangible (T) or intangible (1).
a. Pizza oven
b. Land
c. Franchise
d. Filing cabinet
e. Copyright
f. Silver mine
g. Office building
h. Drill press
i. Patent
j. Oil well
k. Desk
1. Goodwill
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