The tangibility of an asset refers to:
A) whether it is monetary or non-monetary
B) whether it has physical substance
C) whether the asset will be converted into cash within 12 months
D) whether it can be converted into cash at short notice

Question

Quizplus · Accepted Answer

Tangibility refers to whether an asset has physical substance, meaning it can be touched, seen, and measured. Assets that are intangible, such as patents or trademarks, cannot be physically touched or seen.

The Tangibility of an Asset Refers To