Assets can be tangible or intangible. An intangible asset is a non-monetary asset that cannot be seen or touched. Tangible assets are physical assets that can be seen, touched and felt.
For example, a marketing agency's balance sheet lists tangible assets (computers, furniture, and office equipment worth $35,000) alongside intangible assets (a $120,000 customer list acquired in an acquisition and $50,000 in software licenses) — both types contributing to the business's ability to generate revenue.
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