Tangible & Intangible Assets

Before you watch try to guess if

Tangible assets

• Have a physical form

• Have no physical form

What is the definition of a tangible asset?

• An asset with no physical form

• A physical asset that can include machinery and buildings

• An asset that has no monetary value

• An asset that is always invisible

Which of the following is an example of a tangible asset?

• A patent

• A trademark

• Inventory

• Goodwill

Explain with your own words what "intangible assets" are

Evaluate responses using AI:

OFF

PPE - states for

• Power, People, Equipment

• Plant, People, Elephant

• Platn, Property, Equity

• Plant, Property, Equipment

Which assets can be destroyed by natural disasters?

• Tangible assets

• Intangible assets

Why are tangible assets good for securing loans?

• They don’t physically exist

• They can be sold quickly for cash

• They are hard to destroy

• They don’t lose value over time

Intangible assets do NOT include which of the following?

• Goodwill

• Land

• Trademarks

• Copyrights

How is the cost of a tangible asset with a useful life over one year accounted for?

• It is entirely deducted in the first year

• It is never deducted

• It is depreciated over its useful life

• It is listed as an intangible asset