Final answer:
Goodwill should be disclosed separately on the balance sheet, as it represents the excess value over the fair market value of an acquired company and reflects non-physical assets that can affect earnings.
Step-by-step explanation:
The question asks which intangible asset should be disclosed separately on the balance sheet. Among the options provided, Goodwill is often singled out for separate disclosure on a company's balance sheet. Goodwill represents the excess value paid over the fair market value of an acquired company's net assets. It reflects non-physical assets that may contribute to earnings, such as brand reputation, customer relations, and intellectual property. Although intangible assets like customer lists, copyrights, and patents are also important components of a company's overall intellectual property, Goodwill is typically the intangible asset required to be disclosed separately due to its unique nature and the way it is calculated following a business combination.