Question:Indicate which of the following statements is true. 

A Since intangible assets lack physical substance, they need be disclosed only in the notes to the financial statements. 
B Goodwill should be reported as a contra-account in the owner's equity section. 
C Totals of major classes of assets can be shown in the balance sheet, with asset details disclosed in the notes to the financial statements. 
D Intangible assets are typically combined with plant assets and natural resources and shown in the property, plant and equipment section. 

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C 

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Md. Saydul Alam

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