Gifts Galore Is a Souvenir Shop A)Option a
B)Option B
C)Option C
D)Option D

Multiple Choice

Gifts Galore is a souvenir shop.They have just paid $2,000 for the exclusive rights to sell the latest hot fad "Talking Toads".They estimate the fad should last about six months.They also paid $250,000 to be the exclusive carrier of Olympic souvenirs for the next four years.How would each of these intangible assets be reported on the balance sheet?
$\begin{array}{ll}&\text { Talking } & \text { Olympic } \\&\text { Toads } & \text { Souvenirs } \\A.&\text { Current asset } & \text { Current asset } \\B.&\text { Current asset } & \text { Non-current asset } \\C.&\text { Non-current asset } & \text { Current asset } \\D.&\text { Non-current asset } & \text { Non-current asset }\end{array}$

A) Option A
B) Option B
C) Option C
D) Option D