indicate which of the following statements istrue 617301
Indicate which of the following statements istrue.
(a)Since intangible assets lack physical substance, they need be disclosed only in the notes to the financial statements.
(b)Goodwill should be reported as a contra account in the owner”s equity section.
(c)Totals of major classes of assets can be shown in the balance sheet, with asset details disclosed in the notes to the financial statements.
(d)Intangible assets are typically combined with plant assets and natural resources and shown in the property, plant, and equipment section.