Which of the following assets has no physical presence and includes items such as goodwill and patents?

Intangible non-current assets are characterized by their lack of physical form, which distinguishes them from tangible assets like machinery or buildings. This category includes non-physical items such as goodwill, patents, trademarks, and copyrights. Goodwill represents the premium a company pays over the fair value of identifiable net assets during an acquisition, reflecting elements like brand reputation, customer loyalty, and employee relationships. Patents provide exclusive rights to inventors for their inventions, encouraging innovation.

In contrast, tangible non-current assets are physical assets that a company uses in its operations, like land or equipment. Liquid assets refer to cash or assets that can quickly be converted to cash, such as stocks and bonds, while current liabilities represent obligations a company expects to settle within one year, including accounts payable and short-term debt. Thus, the definition and characteristics of intangible non-current assets make this the correct answer, as it accurately describes assets that lack a physical presence.