The Definition of Tangible Property in Accounting?

Answer Tangible property is of benefit to a business in that it is a resource with economic value. Therefore, the acquisition of tangible property increases the value of a business as reflected in the bal... Read More »

Top Q&A For: The Definition of Tangible Property in Accounting

What is the meaning of tangible property?

Tangible property refers to physical items that are owned by an individual. These include buildings, furnishings, fixtures, tools, signs and recreational vehicles including watercraft, off-road veh... Read More »

Is an annuity legally tangible property?

Since an annuity cannot be touched, smelled, seen, tasted or heard, it is not a tangible object. Annuities are types of retirement investment accounts at insurance companies, and are structured as ... Read More »

Is insurance tangible property in a will?

In a will, insurance is not considered tangible property. To be considered tangible property, you must be able to physically touch it. Examples of tangible property include vehicles, jewelry, anima... Read More »

Is Commercial Real Estate a Tangible Property?

A tangible asset is something that can be seen and felt. Land, structures built on land and the contents inside the structures are tangible property. The goodwill associated with a restaurant is an... Read More »