Question

Trade marks appears on which side of the final accounts

Answer 1

Answer:

Trademark comes under the Asset side of Balance Sheet as it is an asset to the business.

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Answer 2

Trademarks are classified as an asset on the balance sheet because they have potential economic worth.

• Customers can recognize a company's brand name, logos, slogans, and product designs.
• But only if they show up on the balance sheet at all, which is unusual.
• There are two kinds of assets: tangible and intangible.
• It's a physical asset if you can touch it; otherwise, it's intangible.
• You can't hold a trademark in your hands.
• It's simply the right to use a company's name, logo, or other identification for business purposes.