MANAGEMENT

Detailed explanation-1: -Goodwill, brand recognition and intellectual property, such as patents, trademarks, and copyrights, are all intangible assets. Intangible assets exist in opposition to tangible assets, which include land, vehicles, equipment, and inventory.

Detailed explanation-2: -Goodwill is considered an intangible (or non-current) asset because it is not a physical asset like buildings or equipment.

Detailed explanation-3: -Brand acknowledgment, goodwill, and intellectual property rights like trademarks, patents, and copyrights, are all intangible assets.

Detailed explanation-4: -Goodwill is another example of an item of intangible nature which either arises on acquisition or is internally generated.

Detailed explanation-5: -Research Cost are not considered as an intangible asset in the balance sheet anymore.