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What are Tangible and Intangible assets.


Tangible Assets=

Tangible assets are those which can be seen or can be touched. Such type of assets are those which has physical appearance. Tangible assets may have defined life like plant and machinery can be defined how long it can work. The expert’s can give estimated time for Plant and machinery as it can be touched and checked properly to define its life.

Example:

Tangible assets involved Plant and machinery and other equipment’s etc.

Intangible Assets=

Intangible assets are those which cannot be seen or touched and having no physical appearance. The life of such type of assets cannot be defined easily for example Good will is type of intangible assets and Good will don’t have defined life time because it depends on the worth and the real value of the products when its value drop down its Good will becomes no more Good will. However Good will may be described with the help of documentations but not in exact way.

Example:

Intangible assets are Goodwill, Patents, Copyrights and Trademarks etc.
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