And -: b) patents are not included in tangible assets because they can't be touched and seen but they can be felt

Tangible Assets

Tangible assets refer to the physical assets of a company that can be touched, seen, or felt. These assets have a definite value and can be used to generate income for the company. They are listed on the balance sheet of a company and are generally recorded at their original cost.

Examples of Tangible Assets

Some examples of tangible assets include:

- Machinery: This includes any equipment or machinery that the company uses in its operations.
- Building: This includes any physical structure owned by the company, such as a manufacturing plant, warehouse, or office building.
- Computers: This includes any computer hardware owned by the company, such as desktops, laptops, and servers.
- Vehicles: This includes any vehicles owned by the company, such as trucks or cars used for transportation or delivery purposes.

Exclusions from Tangible Assets

However, there are certain assets that do not qualify as tangible assets. These include:

- Patents: Patents are considered intangible assets since they are a form of intellectual property and cannot be touched or seen.
- Trademarks: Similar to patents, trademarks are also intangible assets that represent the brand name or logo of a company.
- Copyrights: Copyrights are intangible assets that represent the legal right to use or reproduce a work of art or literature.

In conclusion, tangible assets are physical assets that can be touched, seen, or felt. Examples include machinery, buildings, and computers. However, intangible assets such as patents, trademarks, and copyrights are not considered tangible assets.