The correct answer is Intangible assetsIntangible assets: These are the assets of the business that do not have a physical existence. For example- Goodwill, Patents, Trademarks, etc. Important PointsMining rights are the rights that a business acquires from the government to carry out the mining process. It is an asset for the business but does not have a physical existence. Therefore, they are considered Intangible Assets. As per Schedule III of Companies Act 2013, Mining rights is shown under the subheading of Intangible Assets under the main head Fixed assets. Additional InformationFixed Assets: These assets are those assets of the business which are of permanent nature. These assets are expected to last more than one year. Fixed assets are assets that a business intends to utilize in the long run to create revenue.