Which of the following represents an example of a tangible asset?

A tangible asset is a physical item that has a measurable value and can be touched or physically measured. Property, such as land and buildings, fits this definition perfectly because it is a real asset that can be seen, touched, and counted on financial statements as part of a company’s long-term assets.

In contrast, patents are considered intangible assets because they represent legal rights or privileges rather than physical objects. Certain debts refer to obligations that a company needs to pay, which are also not physical items. Goodwill, too, is an intangible asset that arises when a company acquires another for more than the fair value of its net identifiable assets, reflecting elements like brand reputation and customer relationships rather than any physical asset. Thus, property is the correct example of a tangible asset.