Question

2. "What from the following
is/are NOT tangible
asset(s)?
1. Patent rights
II. Goodwill
III. Land"
Options
I only
Il only
Land II only
I, II and III​

Answer 1

Answer:

I and ii are intangible asset

Answer 2

(I) and (II) are not tangible assets.

Explanation:

(i) Patent rights and (ii) Goodwill both are not tangible assets

while,

(iii) Land is tangible and Fixed asset.

A tangible asset is an asset that has a finite monetary value and usually a physical form. Tangible assets can typically always be transacted for some monetary value though the liquidity of different markets will vary. Tangible assets are the opposite of intangible assets which have a theorized value rather than a transactional exchange value.

• Patents rights can't be seen, touch and are not in physical form.Therfore, they are not tangible assets , they fall under the category Intangible assets.

• Goodwill also can't be seen, touch and is not in physical form.Therfore, they are not tangible assets , they fall under the category Intangible assets.

• Land is a tangible asset as it can be touched, seen, physically present.