Asked by
Naser AlRoumi
on Nov 09, 2024Verified
Inventory, equipment, and building are examples of what kinds of assets?
A) intangible assets
B) tangible assets
C) only current assets
D) only long-term assets
Tangible Assets
Physical and measurable assets owned by a business, such as machinery, buildings, and inventory, as opposed to intangible assets like patents or copyrights.
Inventory
The total amount of goods and materials held by a company in stock, awaiting sale or use in production.
Equipment
Tangible assets used in the operation of a business, excluding inventory and fixed assets like buildings; includes machinery, vehicles, and furniture.
- Comprehend the distinctions between tangible and intangible assets.
Verified Answer
KE
Learning Objectives
- Comprehend the distinctions between tangible and intangible assets.