Which of the following assets could be described as nonphysical?
A) Land
B) Inventory
C) Patents
D) Equipment

Name: Which of the following assets could be described as nonphysical? A) Land B) Inventory C) Patents D) Equipment
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Question

Quizplus · Accepted Answer

Patents are intangible assets that represent the exclusive legal right to use, sell, or license an invention or idea. They do not have a physical presence or substance, and therefore are considered nonphysical assets. Land, inventory, and equipment are all physical assets.

Which of the Following Assets Could Be Described as Nonphysical