alleryStart learning →Which of these is a non-current asset?
ACash in hand
BTrade debtors
CPrepaid insurance
DPatents held
Answer & Solution
Correct answer: D. Patents held
Patents benefit the business for more than a year, so they are non-current assets.
Keep practising Trial Balance
Browse all Trial Balance questions for CA Foundation, or explore more Accounting topics.
Related questions
Which entries decrease an account on the right side of the equation, such as a liability?Which is a long-term liability?Claims of the owners on the assets of the business are shown inDebts or future obligations owed to others are recorded inDebtors, cash and stock are examples ofThe general ledger holds a ledger account for each item in theA suspense account is used toA loss for the year affects retained earnings by