Intermediate Accounting 14th Edition

Published by Wiley
ISBN 10: 0470587237
ISBN 13: 978-0-47058-723-2

Chapter 5 - Balance Sheet and Statement of Cash Flows - Questions - Page 279: 16g

Answer

Franchises should be itemized in a section/sector for intangible assets.

Work Step by Step

Franchises from franchising refer to a method of expansion through a licensing relationship and should, therefore, be itemized in a sector for intangible assets.
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