computer software comes under which list
LectureNotes said computer software comes under which list
Answer:
In general, computer software falls under the category of intangible assets on a company’s balance sheet. Intangible assets are non-physical assets that have value to a company. These assets are non-monetary, meaning they do not have a physical presence, but they hold value due to intellectual property or legal rights associated with them. Examples of intangible assets include trademarks, patents, copyrights, and computer software.
Many companies invest in developing or acquiring computer software to streamline processes, improve efficiency, or offer services. This software is considered an intangible asset because it has value, is non-physical, and is vital to the operations and success of the business. Properly accounting for software as an intangible asset is crucial for accurate financial reporting and valuation of a company.