Tangible assets are physical; they include cash, inventory, vehicles, equipment, buildings and investments.
Intangible assets do not exist in physical form and include things like accounts receivable, pre-paid expenses, and patents and goodwill.
What are the differences between tangible and intangible assets?
Tangible assets are physical in nature that can be either long-term or short-term assets. Intangible assets are long-term assets that are not physical, but rather, intellectual property. Both tangible and intangible assets are recorded on the balance sheet.
What are examples of tangible assets?
Examples of tangible assets include:
- Office supplies.
- Marketable securities.
What are different type of assets?
The following are a few major types of assets.
- Tangible Assets. Tangible assets are any assets that have a physical presence.
- Intangible Assets. Intangible Assets are assets that have no physical presence.
- Financial Asset.
- Fixed Assets.
- Current Assets.
Is a car a tangible asset?
Tangible assets include money, land, buildings, investments, inventory, cars, trucks, boats, or other valuables. Intangibles such as goodwill are also considered to be assets.