Question $13(2\mathrm{.}5$ points$)$

Humberto has written three books which have been copyrighted and published by a national publisher. He also

invented and patented a desktop cover that can change a desk from a sitting desk to a standing desk and back again

using powered telescoping legs. He is using an accounting program to prepare his business accounting records. The

program asks questions about the different aspects of his business and asks him how the book copyrights and patent

should be classified. Which of the following would be the proper designation for the copyrights and patent?

Owners' equity

Liabilities

Intangible assets

Fixed assets

Current assets