What term describes an asset that can be perceived by touch?

The term that describes an asset that can be perceived by touch is "tangible." Tangible assets are those that have a physical presence and can be seen and touched, such as machinery, buildings, inventory, and equipment. These assets are essential for a business as they often represent significant value and play a crucial role in operations. In contrast, intangible assets, such as patents, trademarks, or goodwill, do not have a physical form and cannot be touched or physically interacted with, highlighting the distinct nature of tangible assets in business management and accounting. The distinction between tangible and intangible is fundamental for financial reporting and analysis, as it impacts the valuation and asset management strategies within an organization.