WAEC Financial Accounting 2000 Question 1

Question 1

Final Accounts of a Sole Trader

Which of the following is not an intangible asset?

  1. A.Licences
  2. B.Patents
  3. C.Trademarks
  4. D.Fixtures.
Show the answer and explanation

Answer: D (Fixtures.)

Explanation

Fixtures are physical (tangible) assets; licences, patents and trademarks are rights with no physical form.