New 55% Off on All Courses - Enroll Now! Click Here

    Question

    Which of the following is considered an intangible

    asset?
    A Land Correct Answer Incorrect Answer
    B Buildings Correct Answer Incorrect Answer
    C Capital WIP Correct Answer Incorrect Answer
    D Goodwill Correct Answer Incorrect Answer
    E Loose tools Correct Answer Incorrect Answer

    Solution

    Intangible assets are non-physical assets that lack a physical substance but hold value for a company. Goodwill is an intangible asset that represents the positive reputation, customer loyalty, and other non-physical qualities that contribute to a business's value. Unlike tangible assets such as land, buildings, and machinery, goodwill is not a physical asset but is crucial in assessing a company's overall worth.

    Practice Next