Which asset types are included under the term 'intangible assets' in FASB ASC 805?

The correct understanding of intangible assets as defined under FASB ASC 805 primarily encompasses non-physical assets that provide economic benefits to an entity. Under ASC 805, intangible assets include identifiable non-monetary assets that lack physical substance.

In this context, the mention of long-lived assets and rights to use assets accurately reflects certain types of intangible assets. For example, long-lived assets can encompass various intangible components such as patents, trademarks, or copyrights that are expected to provide value over a substantial period. Right to use assets refer to the values derived from leasing contracts or agreements that permit the use of certain properties, which can also be considered intangible.

In comparison to other options, cash and cash equivalents, accounts receivable, and inventory are categorized as tangible or financial assets rather than intangible. Goodwill, while an intangible asset, is not included in the explanation of physical properties, which are tangible in nature. Thus, the reference to long-lived assets and rights to use assets encompasses the concept of intangible assets as recognized by FASB ASC 805 more comprehensively.