Why is goodwill considered as an intangible asset but not a fictitious asset ?

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Good will cant be see or cant touch so goodwill is intangible asset

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Intangible assets are those assets which cannot be seen or touched .while fictitious asset are those assets whose benefits are derived over a long term like advertisement expenditure

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Goodwill  is an asset  which cannot  be seen and touched  ...so, goodwill is an  intangible  asset..

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Basically, A fictitious asset is the one which is neither tangible nor Intangible. Its benefits are accrued to our firm beyond one accounting period and maybe even losses written off like for example to advertise one's products.
Goodwill is simply doesn't have any physical existence but is the established reputation of a firm when we can quantify it like when a firm buys another firm. So its goodwill is accounted for when in future there's a possibility for it to be sold

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Goodwill becoz it can't be touch or see

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This is a tangible assets because they can't touch just feel like it eg: goodwill,

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Goodwill is assets which we can't see or can't touch so that goodwill is intangible assets.

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Intangible assets are those assets which don't have a physical existence and thus cannot be seen or felt. Therefore goodwill is also an intangible asset.

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Goodwill is the intangible asset becoz we can,t see or touch the goodwill we can only feel

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Goodwill is not considered as fictitious assets because goodwill have some value which enables the firm to earn extra profit but fictitious assets cannot be realised in money worth and such assets e.g preliminary expenses and it considers intangible because it acquire the principle of this asset

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Good will is can't see or can't touch so good will is a intangible assets.

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Because goodwill can't we touch or seen same as intangible assets

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As goodwill cannot be seen or not be touched but is existed in an organisation

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Goodwill is the Image of an enterprise....
Intangible assets are the assets which can't be touched....
Fictional assets are the assets which are unreal....
We can feel the affects of the goodwill in the firm but we cannot touch it..... i.e goodwill exists in reality
That is why... goodwill is considered an intangible asset rather than fictious asset.

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Goodwill cannot be seen or touched hence it is intangible asset.But it is not a fictitious asset because fictitious asset do not have a value where as goodwill has a value it can be purchased or sold

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Good Will can not be seen as well as touch
Goodwill is a intangible assets

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Good will is considered as a intenible assest because it's cannot be seen and touched it is the value that exeeds the asset minus libilities .it represents non physical asset  auch as value creted by strong customer or excellent management or etc.

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I don't know

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As we know that Goodwill is not a fictitious asset . it is an intangible asset as it cannot be seen or touched. fictitious assets have no market value but Goodwill has a market value as it can be sold .

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Hi

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Goodwill is an assets  which cannot touch or see  that is why goodwill is an intangible assets and not a fictitious assets

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The best answer for this question is that Goodwill has a realisable value that's why it is an intangible asset.

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Good will means prestige(intangible) of business which is calculated on the basis of profit if a firm makes losses or there is increase or decrease in profit goodwill also changes while fictitious asset are those which does not changes for a long time

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Goodwill is come under AS-26,  in this only intangible assets included and fictitious assets are that assets which is used for advertisement or help in in future profit

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Fictitious assets can also be understood as deffered revenue expenditure. their benefits are carried forward in the years to come like advertisement expenditure. another important property of fictitious assets us that they HAVE NO SELLABLE OR MARKET VALUE. however, goodwill can be sold and purchased so it is not a fictitious asset.
on the other hand it cannot be seen or touched and hence it is an intangible asset

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Goodwill is an intangible asset, which means that it cannot be seen or felt but has some realisable value. They are not recorded in the books of accounts.
Whereas, Fictitious assets are assets that are made up and do have any realisable value when sold. They are, however, recorded in the books of accounts

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But mine good & will both r considered as tangible assets....

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Good will is a probability that a consumer will continue to patronize a business  even when there is a change in ownership

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Goodwill is an intangible asset because we can not touch and see and goodwill is not a fictitious asset because the meaning of fictitious is  NOT REAL, I mean fictitious asset has neither physical existence nor realizable value. But goodwill has realizable value. Estimated in monetary terms. Therefore goodwill is an Intagible asset but not a fictitious asset.

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Goodwill is intangible asset which gives future benefit whereas fictitious assets are those assets whose benefits have been consumed but are written over a period of time.

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Because  goodwill  can  not  be  seen  or  touch  but  it  can  be  writtenoff by  old  partners  in  their  sacrifices  ratio

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Hii

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Intangible means something which cannot be seen and touched hence Goodwill is considered as intangible asset because we can only feel it

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The main reason behind this statement is that goodwill is an assets for business but we are not able to see or touch i.e. intangible assest ....
thats why goodwill is considered as intagible assets

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B'coz Goodwill doesn't has physical presence

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Intangible assets are those which have some market value and on the other hand fictitious assets are those which do not have any market value.ex.(Dr.balance of p/l A/c becoz we can't sell it in market )

so goodwill is consider as intangible asset becoz it can be sell in market to earn some value

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Good will is a intangible asset because it can not be touch but it can feel that why it is intangible asset  and it is ficitius asset because it can be feel

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Goodwill is an intangible asset, which means that it cannot be seen or felt but has some realisable value. They are not recorded in the books of accounts.

Whereas, Fictitious assets are assets that are made up and do have any realisable value when sold. They are, however, recorded in the books of accounts.

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Goodwill is intangible asset as it cannot be touch and its effect can be felt in its result.

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Goodwill is an intengible asset because goodwill means reputation of firm we can only fell the reputation not a touch and see so that's why goodwill is considered a intengible asset.

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Because it can not been seen or touched by us.

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Good will is the reputation  of  the  business  due to honesty and hardwork of owners which are qualities  which  can  help  businesses  to grow  in future    as income/profits are  assets  and qualities  can only be felt  it is an intangible  asset

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Because it can't be touch and fill but we can use it to grow the reputation of the business

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Goodwill is an intangible asset that means it cannot be seen , touched and feel but has some realisable value and are not recorded in our books of accounts

fictious asset are those assets which have realisable value when sold, they are recorded in our books of accounts.

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Yes

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Goodwill is considered as a intangible asset because goodwill can't see or touch physically but increase your reputation in the market as compared to other companies and that's why goodwill isn't a fictitious asset.

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Intangible assets are those aasets which can't be seen and touch .
Goodwill is an intangible asset as it can't be seen and touch

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Good will can't be touched it can be felt and is intangible asset

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Goodwill is an intangible asset since it has no physical existance and cannot be seen or touched.But it is not a fictitous asset because fictitious asset do not have a value whereas goodwill has a value in case of profit making concerns. It can be sold though a sale will be possible along with the sale of entire business.

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Because goodwill can't be see or touch that's why is called intangible asset.

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Intangible assets are those assets which presence is not seen or touched.. Goodwill can't be seen or touched so it is considered as a intangible asset..

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Fictitious asset is kind of expenditure because first you have to pay for it.
But Goodwill is automatically generated through your firm's action and it is intangible.
that's why we do not consider goodwill as a fictitious asset.

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Because goodwill is intangible and intengible assets mean which can be only observed,we cannot touch them,so goodwill is also a part of intengible assets.

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Goodwill is not an object so that it can be seen or touched but it is felt and can feel it so it is an intangible assets

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Good will cannot see or touch it is a intangible asset

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=closing Bal.+sales-opening bal.-profit
=500000+137500-250000-12500
=375000

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Because Goodwill does not have net realisable value but fictitious assets have realizable value that's why Goodwill is intangible assets not a fictitious Assets

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Because godwilll hase no physical property so it is intangible asset

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Nem and prem

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Goodwill cannot have physical existence and fictitious assets cannot realised in cash or no further benefit derived in fictitious assets. eg. Advertisement expenses.

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Goodwill is an intangible asset, which means that it cannot be seen or felt but has some realisable value. They are not recorded in the books of accounts.

Whereas, Fictitious assets are assets that are made up and do have any realisable value when sold. They are, however, recorded in the books of accounts.

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Intangible assets are those assets which can not be seen and touched on the other fictitious assets are those we are shown in balance sheet only but have not any existence (fictitious assets are made by long term expenditure in advertisement or in promotion of new firm

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Which don't have physical existence and can't touch seen and feels

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Goodwill is firms prestige and it is intangible asset. therfore we can't touch or see it. so it is considered as intangible assets

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Goodwill is asset because  we can not touch and can't see so goodwill is intangible assets

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Because we can't se or touch the goodwill so that's why goodwill is intangible

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Goodwill can not be measured too

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Because they are assets of the company which helps in earning profits but intangible assets

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This is because goodwill is an asset which cannot be seen or touched, so it comes under intangible assets
other examples - copyrights.

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Because fictitious assets can seen and goodwill can never be seen

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Intangible assets are those assets which we can't see or touch and we can't touch or see goodwill hence goodwill is an intangible assets

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Goodwill is consider as an intangible asset of the firm. It means it can not be seen Or touched like other assets of the firm. It does not have any physical existence. On the contrary fictitious assets neither tangible nor intangible assets therefore it is included in fictitious assets.

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Because it can only be felt , it can't be touched or seen

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Nice teaching

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Intangible goods or assets are goods that cannot be seen e.g goodwill, while fictitious goods can be seen and touched e.g patent rights .
NOTE: Intangible goods are in money form while fictitious goods are in paper form.

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Fictitious assets like advertisement suspense have no realisable value whereas Goodwill has a realisable value

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Goodwill is can't seen or touch so it is considered as intangible asset

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Good will is an important asset of the firm but it cannot be touched and seen .It can only be feel that 's why goodwill is called intangible asset

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Goodwill is not a fictitious asset, it is an intangible asset as it can not be seen and touched. fictitious assets are the assets which do not have any market value but goodwill has market value and it can be sold

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Fictitious assets are the deffered revenue expenditure as well as intangible assets i.e advertisement expenses, discount on issue of shares and debentures. But point to be remembered that Goodwill, Patents, Trade Marks are not the part of Fictitious asset

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No goods are tangible but services is intangible as goods we use and we can see ex: CDs .  But services we can experience ex: watching movies.

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Because it have no physical existence. That's why it considered as a intangible asset.

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Intangible assets are those assets which do not have physical existance . So goodwill is something that doesn't exists physically.  Hence,  goodwill is considered to be intangible assets but not a fictitious assets.

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Because goodwill have some sale valuebut fictitious assets don't have any sale value

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Ficticious assets are those assets which can be seen ,felt,or touched.however goodwill can neither be
seen nor can be felt also one creates goodwill by his actions nd it is not concrete.it is a sense felt .for supposedly a firm has a goodwill worth 1000 rupees.however there is no such commodity present in the market itself ,it is an idea the entrepreneur gets in the market in form of creditors ,the amount they lend or the type of respect or facilation the firm recieves in market.

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Because fictitious assets are expenses for promoting a business like advertisement expenses and supporting expenses incurred on raising funds like discount in issue of share etc. Goodwill is a reputation of a firm not a expenses, that’s why Goodwill is not a fictitious assets.

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Intangible assets are those assets which can't be seen or touch...eg.. importance of goodwill can be felt bt cant be seen or touch...while fictitious assets are those assets which give us benefits for 1 accounting year..eg..advertisement..

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Goodwill is  considered as an intangible asset because it has its own monetory value which helps business to earn more profit where as a newly started business who dsnt hav good reputation dnt earn as much profit.Also fictitious assets dnt hav realisable monetory valye

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Firstly know about intangible asset are those which we cannot see and touch but only feel example ., patent , copyright etc. and thus goodwill is an intangible assets

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Goodwill is a intangible asset

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Because Goodwill is intengible assets not a fictitious assets

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Goodwill can be sold at market and have a market value so it is a intangible assets.

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Goodwill can be felt bocoz it can't be touched

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Goodwill is considered as intangible assets because it cannot be seen and touched.

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Goodwill is considered as an intangible asset but not a fictitious asset as goodwill can't be touch but we can feel it's affect
as fictitious asset are the asset which can't be feel

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Goodwill cant be touched and can't be seen so it is an intangible asset and not a fictitious asset

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Goodwill is an assets which we cannot be seen or touched wecan only feel it so it is intangible assets

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It is as simple as adding 2 with 2.
intangible means those who can't seen or touch (as one's soul) and goodwill has the same nature.

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Good will is intangible assets because we can't see it or we can't touch it

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Goodwill is an intangible asset( non-current asset) because it is not a physical assets like building and equipment.
It is an intangible assets which as it cannot be seen and touch . Fictitious asset have no market value but goodwill has a market value as it can be sold.

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Goodwill is an intangible asset as it can't  be touched and seen. It is not fictitious asset as fictitious asset is a huge loss for the organization that is written of throughout many years expecting future profit on account of this. We consider  a fictitious asset not a loss but an asset because if we consider it as loss it is the violation of accrual, realization concept and matching concept.

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Goodwill is an intangible asset, which means that it cannot be seen or felt but has some realisable value. They are not recorded in the books of accounts.
Whereas, Fictitious assets are assets that are made up and do have any realisable value when sold. They are, however, recorded in the books of accounts.

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No

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Goodwill is an intangible asset because it cannot be seen, cannot be touch and feel but it increases the value of firm.
Goodwill comes in Balance sheet in the side of Assets side in the heading of non-current assets.

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Intengible assets are those assets which can not be seen and touch therefore goodwill is intengible assets ...

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Goodwill is considered as an intangible asset as it cannot be seen or touched whereas a fictitious asset is neither tangible nor intangible.

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Intangible asset cannot see and touch  then goodwill is not fictitious asset. because goodwill  we cannot see and touch .

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In simple terms,Goodwill is the present value of the expected future income in excess of a normal return on the investment in tangible assets or for the excess of price paid for a business as a whole over the book value or over the computed or agreed value of all tangible net assets purchased

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Ues

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Intangible assets are those assets which don't have physical existence that can not be seen and touched but should have monetary value. So features of intangible assets above mentioned is matched with goodwill that's why Goodwill is considered as an intangible assets.Godwill is not fictitious asset because fictitious asset don't have monetary value while goodwil have monetary value.

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Infact expenditure create assets but fictitious asset may not treated as expenditure to business in a immediate accounting year.. gradually it's amortization or written off from more than one year accouting profits.. notable one is intagiable assets treated as true assets but in the matter of fictitious isn't ...

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Goodwill is intangible asset as it cannot be touch and its effect can felt in its result.

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It is so because assets which cant be touched are known to be intangible assets. Goodwill cant be touched but its effect is shown. As goodwill cant be touched, hence is considered as an intangible asset.

HOPE IT HELPS!!!

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Goodwill is not considered as an intangible assets not a fictitious asset because :

1) goodwill cannot seen or touch by any one.

2) amount of fictitious assets can't be divided among the partners or shareholders but we can divide the amount of goodwill.

3) goodwill can be sold but not fictitious asset etc.

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Its an abstract we can say as we cant see nor touch

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Fictitious assets are basically deferred revenue expenditures .Sometimes they are also intangible. so remember that the main thing that differentiates goodwill and fictitious assets  is that goodwill has a market value while fictitious assets do not have any market value as they actually are deferred revenue expenditures.

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Because it can't be seen & touch...

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Intangible resource are those which cannot be seen or touched . Goodwill is the reputation of the firm which cannot be touched or seen but it exist . Therefore , goodwill is intangible resource.

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Intangible because it cannot be seen and touch

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Because it can not be seen or touched so it's a intangible asset.

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Fictituous assets are not assets actually, they are expenses and losses shown on asset side of the Balance sheet. Fictitious means “Fake”.
Fictious assets are those assets which couldn’t be written off during the present accounting period.
Examples-
1.Preliminary expense
2.Promotional expense of a business.
3.Discount allowed in issue of shares
4.Loss incurred on issue of debentures.
Goodwill is not an expense as explained below:
Goodwill is an intangible asset that arises when one company purchases another for a premium value. The value of a company’s brand name, solid customer base, good customer relations, good employee relations ,and any patents or proprietary technology represent goodwill.
Goodwill is considered an intangible asset because it is not a physical asset like buildings or equipment. The goodwill account can be found in the assets portion of a company's balance sheet.

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Good will is intangible assert since cannot be seen  but  it as a value for it. fictious assert is something which is used increase the  sales example advertisements

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Fictitious asset doesn't have a market value but goodwill have

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Because goodwill has not any physical existance and it can't be see and touched but feel so it is considered as intangible asset not fictitious asset.

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Because it is a real account

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Those assets which cann't be touch and see , so these type of assets are Intagalbe Assets. Basically goodwill is intangable because i cann't se and touch

Similar Commerce Doubts

Why is 'goodwill' considered an 'intangible asset' but not a 'fictitious'?(acc ch-3)?

Why good will considered as intangible asset but not fictitious asset???

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Goodwill is not a ……..

According to me Goodwill,patent,trademark is a intangible asset but in bcom entrance exam book it is given fictious asset.which answer is correct?

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