Question : Goodwill and patents fall under the category of ________.
Option 1: Current assets
Option 2: Liquid assets
Option 3: Intangible assets
Option 4: Tangible assets
Correct Answer: Intangible assets
Solution : Answer = Intangible assets
Goodwill and patents fall under the category of intangible assets. Intangible assets lack physical substance but have value to a company, such as brand reputation (goodwill) and intellectual property rights (patents), contributing to the company's long-term value and competitive advantage. Hence, the correct option is 3.
Question : Goodwill is
Option 1: Tangible Fixed Assets
Option 2: Other Current Liabilities
Option 3: Intangible Assets
Option 4: Short-term Borrowings
Question : Creditors are
Option 3: Intangible Assets under Development
Option 4: Trade payable
Question : Goodwill and copyright are examples of which assets?
Option 1: Liquid asset
Option 2: Current asset
Option 3: Fixed asset
Option 4: Intangible asset
Question : Which of the following is the correct formula for "Current Ratio"?
Option 1: Liquid Assets/Current Liabilities
Option 2: Current Assets/Current Liabilities
Option 3: Fixed Assets/Current Assets
Option 4: Liquid Assets/Current Assets
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