b. It is sometimes stated that the asset side of a balance sheet should include the rights in property, both tangible and intangible, of a business enterprise. Accepting this statement, discuss whether the following items should be included among the assets:
a. Investment in government bonds.
b. Investment in corporate bonds.
c. Prepaid expenses.
d. Costs of drilling for oil (assuming oil was found).
e. Advertising costs connected with a new product (not yet offered for sale).
f. Costs of organizing a new corporation.
g. Costs connected with issuing bonds.
h. Costs of installing a piece of equipment.
i. Costs of drilling for oil (assuming oil was not found).