Question

7. Which of the following is not an example of intangible asset?
a.	Licenses,franchises,memberships,and customer lists
b.	Special formulas,processes,technologies,and design
c.	Reputation, privilege and relationship with government
d	Exploration rights and natural resource development costs

Answer 1

Correct answer---- (c) Reputation, privilege and relationship with government.

.

License, franchise, special rights , formula or any know how can be capitalised as intangible assets, reputation of a business on the other hand cannot be quantified.

Same applies to relationship with government , givergover relation with company cannot be recorded as intangible asset because the benefit from that relationship can't be quantified in numbers.