Which of the following is NOT a category of PP&E?

• A. PP&E
• B. Intangible assets
• C. Current assets
• D. Liabilities

Answer: (B)

PP&E represents tangible, long-lived assets used in operations, such as land, buildings, machinery, and equipment. Intangible assets are non-physical assets like patents, copyrights, trademarks, software, and goodwill, and they are not part of PP&E. They are categorized separately on the balance sheet and are typically amortized or tested for impairment. Current assets are short-term resources (like cash and inventory) and liabilities are obligations; neither is PP&E. So the item that is not a category of PP&E is intangible assets.