Identify each of the following long term operational assets as either tangible (T) or intangible (I) a 18 wheel truck b Timber c Log loader d Dental chair e Goodwill f Computer software g Retail store building h Shelving for inventory i Trademark j Gas well k Drilling rig l FCC license for TV stati...

No Tangible T Intangible I a 18Wheel Truck T b Tim ...

Identify each of the following long-term operational assets as either tangible (T) or intangible (I). a. 18-wheel

Question:

Identify each of the following long-term operational assets as either tangible (T) or intangible (I).
a. 18-wheel truck
b. Timber
c. Log loader
d. Dental chair
e.
f. Computer software
g. Retail store building
h. Shelving for inventory
i. Trademark
j. Gas well
k. Drilling rig
l. FCC license for TV station

Goodwill
Goodwill is an important concept and terminology in accounting which means good reputation. The word goodwill is used at various places in accounting but it is recognized only at the time of a business combination. There are generally two types of...