Question: 1. Equipment includes machinery used in manufacturing, computers and other office equipment, vehicles, furniture, and fixtures. What costs might we incur to get equipment ready for use?
2. Where in the balance sheet do we report natural resources? Provide at least three examples of natural resource assets.
3. Explain how the accounting treatment differs between purchased and internally developed intangible assets.
4. What are the differences among a patent, a copyright, and a trademark?