Tangible & Intangible assets
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 August 2010
Hello, Can anyone clarify that tangible & intangible assets are always explained in relation to fixed assets & not current assets? If yes, then why?
07 August 2010
Tangible assets are those that have a physical substance and can be touched. Normally current assets are not qualified into tangibles or intangibles. Going strictly by the definition of "touchability", sundry debtors, cash at bank, deposits, advances to creditors, etc will qualify to be called intangible current assets.
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07 August 2010
tangible asset
The asset which have physical substance. Example plant and machinery.
Intangile
This class of asset associate with profit generation capacity but not have any physical substance
The asset which have physical substance. Example plant and machinery.
Intangile
This class of asset associate with profit generation capacity but not have any physical substance
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