Home » MCQs » Commerce MCQs » Basic Accounting MCQs

What are the long-term assets which do not have any physical existence?

7. What are the long-term assets which do not have any physical existence?

1. Intangible Assets
2. Tangible Assets
3. Current Liabilities
4. Current Assets

Answer: A) Intangible Assets

Explanation:

Intangible Assets have no physical existence. For Example, Goodwill, Brand Recognition, Patents etc. are known as Intangible Assets.