Which of the following is classified as intangible assets?

Intangible assets are non-physical assets that provide value to a business but do not have a physical presence. The correct classification includes things like a business name, client lists, contracts, and intellectual property, which are all components that contribute to the competitiveness and market standing of a business.

A business name can influence brand recognition and customer loyalty; client lists represent established relationships that can lead to ongoing sales; contracts may provide rights and obligations that hold monetary value; and intellectual property, such as patents or trademarks, can protect creative assets and provide exclusive rights in the market.

On the other hand, inventory, buildings, and equipment are classified as tangible assets, as they have a physical presence and can be touched and measured. These assets play critical roles in the operational capacity of the business, but they do not fall into the category of intangible assets. Therefore, the classification of business names, clients, contracts, and intellectual property as intangible assets is accurate and reflects their nature and importance in the business environment.