Fixed Assets Can Be Either Tangible or Intangible

question 31

Multiple Choice

Fixed assets can be either tangible or intangible. Intangible assets are:

• A) property, plant and equipment.
• B) can be converted to cash in the normal course of business.
• C) can be very valuable, although they have no physical presence, such as trademarks or patents.
• D) are highly liquid.

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Definitions:

Year-End Price

The market price of a stock or any other security on the last trading day of the year.

Price Index

A measure that examines the average change in prices of goods and services over time in an economy.

Dollar-Value LIFO

An inventory valuation method that uses the last-in-first-out (LIFO) principle, adjusted for changes in the dollar's value, to account for inflation.

Year-End Price

The final market price of a security or an asset on the last trading day of the fiscal year.