Question

Types of fixed assets are ______.

• A. Tangible asset
• B. Intangible asset
• C. None of the bove
• D. Both A & B

Answer 1

Answer: (D)

Both A & B

Fixed assets are those assets which are durable in nature and used in the business over and over again. Fixed assets are further classified in to two categories:

Tangible Assets: These are assets which are tangible in nature i.e. these assets have existence, can be physically seen and touched. Examples are Plant & Machinery, Land & Building etc.

Intangible Assets: These are assets which are intangible in nature i.e. these assets have no physical existence, can't be seen and touched. Examples are Goodwill, Trademarks, Copy rights etc.