Solution-Fixed asset in balance sheet

Fixed asset in balance sheet

Reference no: EM131082490

One of G plc's employees developed a new product. This has just been patented. The development costs of this product were negligible, but the patent rights are almost certainly worth many millions of pounds. Which accounting concept would prevent the company from recognising the value of this patent as a fixed asset in its balance sheet?

Reference no: EM131082490

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Fixed asset in balance sheet

Reference no: EM131082490

Reference no: EM131082490

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