Which of the following represents intangible assets?

Intangible assets are non-physical assets that provide a company with future economic benefits. They are not tangible like cash, inventory, or physical equipment but still hold substantial value for a business.

Patents and trademarks fall under the category of intangible assets because they represent legal rights or privileges that a company can leverage to generate revenue. Patents offer protection for inventions, granting exclusive rights to manufacture and sell innovative products for a certain period. Similarly, trademarks protect recognizable signs, logos, or phrases that distinguish a company's goods or services from those of others.

In contrast, cash and inventory are classified as current assets, while plant and equipment are categorized as tangible fixed assets. Accounts receivable represent customers' debts to the company for goods or services delivered and are also considered current assets. These categories differ from intangible assets, which are not physical items but rather intellectual property and legal rights that can enhance a company’s market position.