Long term assets without any physical existence but, possessing a value are calledA) Intangible assetsB) Fixed assetsC) Current assetsD) Investments
Question
Long term assets without any physical existence but, possessing a value are calledA) Intangible assetsB) Fixed assetsC) Current assetsD) Investments
Solution
The correct answer is A) Intangible assets. These are assets that are not physical in nature. Goodwill, brand recognition and intellectual property, such as patents, trademarks, and copyrights, are all examples of intangible assets.
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