Which of the following is an example of an intangible asset for a manufacturer of padlocks?
A)money owed to them by a do-it-yourself superstore chain
B)a patent on titanium lock mechanism
C)a machine for forming the locks out of sheet metal
D)a warehouse for storing locks
E)an office for company CEO

Question

Quizplus · Accepted Answer

A patent on a titanium lock mechanism is an intangible asset because it is a non-physical asset that provides economic benefits to its owner, such as exclusive rights to produce and sell a product.

Which of the Following Is an Example of an Intangible