Investment in shares

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Querist : Anonymous

Querist : Anonymous (Querist)

12 August 2010 Will investment in shares be called tangible asset or intangible asset? please clarify with reason.

CA SMR

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12 August 2010 Its a tangible asset.Please refer to AS 26 for examples on intangible assets.
An intangible asset is an identifiable non-monetary asset, without physical substance, held for use in the production or supply of goods or services, for rental to others, or for administrative purposes

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Querist : Anonymous

Querist : Anonymous (Querist)

12 August 2010 Hi, thanks for your reply. I agree with your view. But going by the definition of tangible asset, will investment be called tangible asset?

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