A certain equilibrium is thereby maintained, a certain moderation. In a way, it is the benefits of the expenditure or the investment that are deferred, and the expenses therefore are also deferred until the one compensates for the other. The final entry under Assets is intangibles: patents, trademarks, good will. There may, of course, be a real value in any or all of these items: Kodak is a much better name for photographic equipment than E-Z-Snap. Yet it is difficult to fix a proper price on people's confidence in your product, or on the familiarity of your brand name. Most companies, therefore, carry intangibles at $1 or, like California Standard, do not mention them at all.


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