Which of the following statements is true about resources?
A)Intangible resources include land and factories.
B)Examples of tangible resources are brands and patents.
C)Intangible resources are those with a physical presence.
D)Accountants classify resources as tangible or intangible assets.

Question

Quizplus · Accepted Answer

Accountants classify resources into two categories: tangible and intangible assets. Tangible assets are those with a physical presence, such as buildings or equipment, while intangible assets do not have a physical presence, such as patents or brand names. A and B are incorrect as they mix up the meanings of tangible and intangible resources. C is incorrect as it contradicts the definition of intangible resources.

Which of the Following Statements Is True About Resources