MANAGEMENT

Detailed explanation-1: -Tangible assets are physical things. Examples include land, buildings, vehicles, furniture, and equipment. On the balance sheet, assets are recorded as current and long-term assets (non-current assets).

Detailed explanation-2: -Land and buildings are tangible, long-term assets companies use and benefit from over time. They are tangible because they have a physical form-unlike intangible assets (such as patents, trademarks and copyrights) that do not.

Detailed explanation-3: -Land is regarded as a fixed asset for a business, as it provides appreciation in the long term. It is therefore a long term asset for the business.

Detailed explanation-4: -Tangible assets form the backbone of a company’s business by providing the means by which companies produce their goods and services. Tangible assets can be damaged by naturally occurring incidences since they are physical assets. These assets include: Land.

Detailed explanation-5: -Real estate like buildings, offices, and land are tangible assets, not intangible assets.