Final answer:
Noncurrent tangible assets from the list provided are property and equipment, as they have physical substance and are long-term investments. Accounts receivable is an intangible current asset, while copyright and trademark are intangible assets. Collectibles like paintings and baseball cards are tangible but not typical assets found on a company's balance sheet. The correct answer is option 1 and 3.
Step-by-step explanation:
The question asks which of the listed items are noncurrent tangible assets. In accounting, a tangible asset is a type of asset that has physical substance and can be touched. Noncurrent assets are long-term investments that are not expected to be converted into cash or used up within one year’s time. Among the options listed, property and equipment fit the description of noncurrent tangible assets.
Accounts receivable, while an asset, is not tangible as it represents the money owed to a company and is typically expected to be received within a year, making it a current asset. Copyright and trademark are types of intellectual property and are considered intangible assets since they cannot be physically touched but do provide value to a company.
Finally, considering the additional information given, items like paintings, fine wine, and baseball cards are indeed tangible assets; however, they are typically categorized as collectibles. Collectibles can be a form of investment, offering both aesthetic and potential financial returns, but they should not necessarily be counted upon for a higher-than-average rate of return over a long period.