Accounting: Depreciation and Non Current Assets Flashcards
1
Q
What does tangible mean?
A
– Assets that have physical substance and are held for use in the production or supply of goods or services
2
Q
What does Intangible mean
A
non-financial non-current assets that do not have physical substance but are identifiable and are controlled by the entity through custody or legal rights.
3
Q
Investments?
A
assets held on a long-term basis (i.e. for more than one year
4
Q
Give examples of tangible non -current assets
A
land & buildings; plant & machinery; motor vehicles; furniture, fixtures & fittings; office equipment; loose tools
5
Q
Give examples of INtangible non -current assets
A
goodwill, patents, trade marks, development expenditure.
6
Q
Give examples of investments
A
subsidiaries, joint ventures, shares, debentures held.
