Asset Classification Quiz

Which of the following is considered a current asset?

• Land

• Accounts Receivable

• Equipment

• Goodwill

What is a key characteristic of a non-current asset?

• It can be sold quickly

• It is expected to be converted into cash within a year

• It provides long-term benefits to a business

• It is always intangible

Which of the following is a tangible asset?

• Patents

• Inventory

• Brand name

• Trademarks

Which of the following best describes an intangible asset?

• A physical item owned by the company

• An asset that is easily liquidated

• An asset that has no physical form but adds value to the company

• A current asset with a short lifespan

Which asset would be categorized as a non-current, intangible asset?

• Cash

• Goodwill

• Machinery

• Inventory

A company’s prepaid insurance is considered what type of asset?

• Current asset

• Non-current asset

• Intangible asset

• Tangible asset

Identify the non-current tangible asset from the following options:

• Building

• Trademark

• Accounts Receivable

• Software

Which of these is not considered a tangible asset?

• Office furniture

• Vehicles

• Patents

• Equipment

If a company buys a new patent for a unique technology, how would it classify this asset?

• Current tangible asset

• Non-current intangible asset

• Non-current tangible asset

• Current intangible asset

Which of the following is considered a current intangible asset?

• Trade receivables

• Inventory

• Copyright that expires in six months

• Building