Question

Business Assets which cannot be seen, touched but can be sold for cash are ________________.

• A. urrent assets
• B. Tangible assets
• C. Intangible Assets
• D. Fictitious assets

Answer 1

Answer: (C)

Intangible Assets

Fixed Assets are classified in to two categories:

Tangible Fixed Assets: Assets which can be clearly identifiable, seen, touch and have the physical existence are called tangible fixed assets. Examples are land, building, plant & machinery etc.

Intangible Fixed Assets: Assets which can not visible, can't be seen, can't be touch and have no physical existence but can be sold in cash are considered as intangible assets. Examples are, goodwill, copy rights, patents etc.