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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

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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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