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Which one of the following is an example of an intangible asset? Multiple Choice Accounts receivable....

Which one of the following is an example of an intangible asset?

Multiple Choice

  • Accounts receivable.

  • Inventory.

  • Accounts payable.

  • Furniture.

  • Patent.

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Answer #1

Answer: PATENT

Out of all the assets given in the options, PATENT is an example of intangible asset.
Intangible assets are those assets which don't exist physically like goodwill, patent, trademarks etc.

Furniture, inventory are tangible assets which has physical substance i.e. that can be seen and touched.
Assets like accounts receivable, deposits etc don't have physical substance but still they are not classified as intangible assets. These assets are financial instruments.
Accounts payable is not an asset, it is a liability.

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