Which of the following are considered intangible long-term assets?

Intangible long-term assets are non-physical assets that provide economic benefits over time and are not easily converted to cash. Patents and trademarks fall under this definition as they represent exclusive rights or intellectual property that give the holder a competitive advantage in the marketplace. These assets typically have a finite useful life for patents, which may last for a maximum of 20 years, and an indefinite life for trademarks, as long as they are actively used and protected.

In contrast, land and buildings are tangible long-term assets because they have physical substance. Inventory and accounts receivable are classified as current assets because they are typically expected to be converted into cash or used up within one year. Cash and cash equivalents include readily available funds and are also not considered long-term assets. Therefore, the correct answer highlights the nature of patents and trademarks as intangible assets, marking their distinction from the other options provided.