Question

State with reasons whether the following statement is true or false:
Patent-Right is in the nature of Real A/c.

• A. True
• B. False

Answer 1

The correct option is A True

Intangible real accounts represents assets and properties which cannot be seen, touched or felt but can be measured in terms of money.

For e.g. Goodwill account, Trademark account, Patents account. Patent account is an intangible asset and hence, is classified as a real account.