Tangible assets are assets that can be touched. Intangible assets are assets that have no physical substance
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Tangible assets are assets that can be touched. Intangible assets are assets that have no physical substance (other than pieces of paper) but give the entity valuable rights. Which of the following are tangible assets?
Current Assets Noncurrent Assets 1. Prepaid rent 5. Goodwill 2. Inventory 6. Buildings 3. Accounts receivable 7. Investment in another entity 4. Notes receivable 8. Land
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