SIE Exam Question 144: Answer and Explanation

Question: 144

When considering a corporation's balance sheet, all of the following are categorized as other assets EXCEPT

• A. trademarks.
• B. patents.
• C. property.
• D. goodwill.

Correct Answer: C

Explanation:

Property, when categorized on a corporation's balance sheet, is considered a fixed asset. Other assets can include a corporation's trademarks, patents, and goodwill.