Question

Mining Rights are ______.

विकल्प

• Property, Plant and Equipment.

• Intangible Assets.

• Intangible Assets Under Development.

• Capital Work-in-Progress.

Answer 1

Mining Rights are intangible assets.

Explanation:

Under Schedule III of the Companies Act, mining rights are classified under the sub-heading of intangible assets within non-current assets. Mining rights represent legal permissions or contractual use rights acquired by a business to explore and extract minerals from a specific area. Because these rights possess significant economic value and are controlled by the enterprise over multiple years but completely lack physical or tangible substance, they meet the exact criteria for an intangible asset.