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Discussion :: Tally

  1. Patent account falls under

  2. A.

     Investments

    B.

     Liabilities

    C.

     Current assets

    D.

     None of these

    View Answer

    Workspace

    Answer : Option D

    Explanation :

    A patent is an amortizable, intangible asset that grants a business the sole right to manufacture and sell an invention. An intangible asset is a useful resource without any physical presence. The assets such as trademarks, copyrights, patents, goodwill etc are intangible assets.


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