Tangible and Intangible assets explained in simple terms in this video. Difference between tangible and intangible assets.
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Assets apart from being classified in current and non current categories assets are also differentiated on the basis of their physical appearance like tangible and non tangible.
Tangible means whether the asset is physically visible to the naked eye, or it can be touched or moved(in some cases), for example land, building, equipment, vehicles, inventory etc.
While non-tangible assets means those type of assets which cannot be touched or seen. For example, Goodwill, brand recognition and intellectual property, such as patents, trademarks, and copyrights, are all intangible assets.
That is the main difference between tangible and intangible assets we will know more about intangible assets in the next video
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