Definition of Tangible Asset | Physical Assets in Business

Accounting Definitions

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Tangible Asset Definition

A tangible asset is an item owned by a business that has a physical presence, such as a piece of equipment or a vehicle.

Tangible Asset Extended Definition
When an item can be physically seen or felt, it is a tangible asset. Tangible assets add value to a business’s net worth. You might protect your tangible assets with insurance, use them as collateral to secure a loan, or turn them into cash.

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Last Updated By

Jenna Hutkowski | Apr 18, 2023

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