The long term assets that have no physical existence but are rights that have value is known as ........

Accountancy (Phase -I & II) Company Final Accounts

The long term assets that have no physical existence but are rights that have value is known as

Current assets

Fixed assets

Intangible assets

Investments

- Understanding Asset Types:

- Current Assets: Short-term assets that can be liquidated within a year.

- Fixed Assets: Physical, long-term tangible assets such as buildings and machinery.

- Intangible Assets: Long-term assets with no physical form but representing value, like patents and trademarks.

- Investments: Assets acquired for holding or earning income, may include physical or financial forms.

- The correct answer is Intangible assets from Option 3.

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