Which of the following is NOT an intangible asset?

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Multiple Choice

Which of the following is NOT an intangible asset?

In accounting, assets are categorized as tangible or intangible. Tangible assets have physical form, while intangible assets are non-physical rights or privileges. The items patent, franchise, and goodwill are classic examples of intangible assets because each represents a non-physical right or value. Land, however, can be touched and seen; it has material substance, so it’s a tangible asset and sits under property, plant and equipment. It’s acquired at cost and, unlike many intangible assets, is not amortized (though it can be tested for impairment if conditions change). Therefore, land is not an intangible asset, making it the correct choice.

In accounting, assets are categorized as tangible or intangible. Tangible assets have physical form, while intangible assets are non-physical rights or privileges. The items patent, franchise, and goodwill are classic examples of intangible assets because each represents a non-physical right or value. Land, however, can be touched and seen; it has material substance, so it’s a tangible asset and sits under property, plant and equipment. It’s acquired at cost and, unlike many intangible assets, is not amortized (though it can be tested for impairment if conditions change). Therefore, land is not an intangible asset, making it the correct choice.

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