Distinguish between a tangible and an intangible asset. (Select all that apply.) Tangible assets are A. tangible in nature. B. lack physical substance. C. used in the production and sale of other assets. D. have economic value because of the rights they confer on the holder. E. long-lived. Intangible assets are A. have economic value because of the rights they confer on the holder. B. long-lived. C. lack physical substance. D. tangible in nature. E. used in the production and sale of other assets