Intangible Assets include:

Question

BlackTom AI · Accepted Answer

To begin, recall the distinction between tangible and intangible assets in accounting. 
Option 1: patents. Patents are a classic example of intangible assets because they represent a legal right or privilege that has value but lacks physical substance. This makes them fit squarely into the intangible category. 
Option 2: land. Land is a tangible asset; it has physical form and can be touched. It is not intangible, so this option does not describe an intangible asset. 
Option 3: equipment. Equipment is tangible; it comprises physical items used in operations or production. While it contributes to business value, it does not meet the definition of intangible assets. 
Option 4: office furniture. Like equipment, office furniture is a physical object and thus a tangible asset. It does not belong in the intangible assets category. 
In summary, among the options, patents are the only intangible asset, whereas land, equipment, and office furniture are tangible assets.

BBK99E2 - Basic Bookkeeping Level 2 Part 2 - Online Exam

Intangible Assets include:

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