Which of the following statements regarding intangible assets is incorrect? Select one: A. Intangible assets are not reported on the balance sheet. B. Intangible assets have no physical form. C. Intangible assets are valuable because of the special rights they carry. D. Intangible assets include the exclusive right to produce or sell an invention.

Which of the following best explains how trade enables greater specialization among producers? a. trade diversifies the market by bringing specialized goods from around the world. b. trade requires distribution networks and adds one more step to the production process. c. trade enables producers to open up new markets for their goods and services. d. trade allows people to focus on one kind of production and trade for their other needs.