Explanation:

- Machinery: This is a tangible asset because it is a physical item that companies use in operations to produce goods or services. You can see, touch, and move machinery.

- Trademarks: This is not a tangible asset. Trademarks are intangible assets. They represent brand identity and have no physical presence. You cannot touch or move a trademark, but they hold significant value for a business.

- Factories: These are tangible assets. Factories are physical structures where production or other business activities occur.

- Offices: These are tangible assets as well. Offices are physical spaces where business operations and management activities are carried out.

Trademarks are not tangible assets.