A
Since intangible assets lack physical substance, they need be disclosed only in the notes to the financial statements.
B
Goodwill should be reported as a contra-account in the owner’s equity section.
C
Intangible assets are typically combined with plant assets and natural resources and shown in the property, plant, and equipment section.
D
Totals of major classes of assets can be shown in the balance sheet, with asset details disclosed in the notes to the financial statements.
