Question

Resources fall broadly into two categories: tangible and intangible. Tangible resources have physical attributes and are visible. Intangible resources have no physical attributes and thus are invisible. Examples of intangible resources are a firm's culture, its knowledge, brand equity, and reputation. Which of the following is an example of an intangible resource?
a. equipment.
b. copyright.
c. cash.
d. land.
e. inventory.

Answer 1

Answer:

B) copyright

Explanation:

Copyright is an intangible asset since it is considered intellectual property. Intellectual property is something created (ideas or concepts) by someone's own mind, for example patents, music work, art, etc.

Copyright laws protect intellectual property from being copied, distributed and sold without authorization of the author and the previous payments of usage rights.

Answer 2

Answer:

a. equipment.

c. cash.

d. land.

e. inventory.

Explanation:

Tangible resources are physical objects and assets that are noticeable and have physical characteristics. It is quick to liquidate these products and have a fixed price.

These are critical when it comes to accounting because these help a company realize that when placed on balance sheets or financial statements it's financial position.