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Meyer Media produced several screenplays that they turned into movies. Each screenplay they use has a copyright. In which section of the financial statements should they report these copyrights

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Answer:

B) in the intangible assets section of the balance sheet.

Step-by-step explanation:

Copyright law protects the author of a work (e.g. movie, song, book) from other people using their work without the author's permission. Authors have the right to charge money in order to give permission for using their work.

Copyright is a type of intellectual property, therefore businesses classify copyright as intangible property and report it under intangible assets in the balance sheet.

User Eriks Klotins
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