Q.

Which of the following is an example of an intangible asset?

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a

Land

b

Patents

c

Machinery

d

Inventory

answer is B.

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Detailed Solution

An intangible asset is a non-physical asset that has no intrinsic value but has value due to the rights and privileges it confers. Patents are a type of intangible asset that gives the holder exclusive rights to use and market an invention for a certain period of time.

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