Which of the following terms is applied to long-term assets that have no physical substance and provide rights,privileges and special opportunities to businesses?
A)Tangible assets
B)Intangible assets
C)Natural resources
D)Property,plant and equipment

Question

Quizplus · Accepted Answer

Intangible assets are long-term assets that have no physical substance and provide rights, privileges, and special opportunities to businesses. Examples include patents, trademarks, and copyrights. Tangible assets (A) are physical assets such as land, buildings, and equipment. Natural resources (C) refer to naturally occurring materials used in production, such as oil and minerals. Property, plant and equipment (D) includes tangible assets used in the production of goods and services, such as machinery and vehicles.

Which of the Following Terms Is Applied to Long-Term Assets