Question

What type of long-term assets have no real physical form but do have value?

a) Intangible assets
b) Tangible assets
c) Current assets
d) Liquid assets

Answer 1

Intangible assets are a type of long-term asset that have no physical form but hold value, such as patents, copyrights, trademarks, and goodwill.

Step-by-step explanation:

Intangible assets are a type of long-term assets that have no physical form but still hold value. These assets include things like patents, copyrights, trademarks, and goodwill. While they cannot be touched or seen, they are still valuable to a company because they provide exclusivity rights or enhance its reputation. For example, a patent gives a company the exclusive right to produce and sell an invention for a certain period of time.