A intangible asset is one whose value depends on particular physical properties such as buildings, land, or machinery. Tangible assets, by contrast, represent legal claims to some future benefit.

Question

Quizplus · Accepted Answer

The statement is incorrect. Intangible assets are assets that do not have a physical presence but still have value, such as patents, brand names, copyrights, etc. Tangible assets are physical assets like buildings, land, or machinery. The definition given in the statement is in reverse.

A Intangible Asset Is One Whose Value Depends on Particular