What type of property is referred to as tangible property?

Tangible property refers to physical assets that can be seen and touched, making them distinctly different from intangible assets, which cannot be physically possessed. Examples of tangible property include vehicles, buildings, machinery, and other physical items that have a measurable value and can be used or utilized in various ways.

Tangible property plays a crucial role in different areas such as accounting, taxation, and asset management, where it is often easier to evaluate and assess due to its physical nature. This is contrasted with intangible assets, which include stocks, patents, and trademarks that lack a physical presence but carry value. Monetary assets, such as cash, represent value but do not involve the concept of tangible property in the traditional sense, as they are financial instruments. Similarly, virtual assets, including cryptocurrency, exist in a digital format and do not have a physical form, further underscoring the distinction between tangible and intangible types of property.