Question

what do you mean by intangible asset and explain the example of intangible asset

Answer 1

Those asset which cannot be touched or seen is called Intangible asset. e.g... Goodwill, it is an Intangible asset because it can not be touched but it is an asset due to it increases reputation of firm which implies more customer to trade.

Answer 2

goodwill, patents, trademarks and copyrightsare intangible assets. None of these assets can be physically touched, but theycan still have value. The line item for intangible assets is found on the balance sheet.