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

Commerce Question

By Nav Dhillon · Nov 22, 2018 ·Commerce
84 Answers
Zayeda Sulthana answered Nov 22, 2018
Good will cant be see or cant touch so goodwill is intangible asset

Shivanshu Gupta answered Nov 22, 2018
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

Ritika Verma answered Apr 21, 2020
Goodwill is an asset which cannot be seen and touched ...so, goodwill is an intangible asset..

Shivani Chaurasia answered Apr 17, 2020
Goodwill is assets which we can't see or can't touch so that goodwill is intangible assets.

Ankita Joshi answered May 09, 2020
Goodwill becoz it can't be touch or see

Vrinda Gupta answered May 22, 2020
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

Arihant Printers answered Apr 25, 2020
As goodwill cannot be seen or not be touched but is existed in an organisation

Pooja Keherwar answered 4 weeks ago
Goodwill is the intangible asset becoz we can,t see or touch the goodwill we can only feel

Vidisha Shandilya answered Nov 23, 2018
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.

Sakshi Sharma answered Jun 06, 2020
Because goodwill can't we touch or seen same as intangible assets

Shaana Vishkarma answered Jul 02, 2020
This is a tangible assets because they can't touch just feel like it eg: goodwill,

Shona Shona answered Jun 04, 2020
Good will is can't see or can't touch so good will is a intangible assets.

Astha Gupta answered Jun 05, 2020
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

Isha Agrawal answered Apr 08, 2020
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

Rocky Gupta answered Jun 14, 2020
But mine good & will both r considered as tangible assets....

S To S Teaching answered Jul 02, 2020
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.

Upasna Sisodiya answered Apr 27, 2020
Good Will can not be seen as well as touch
Goodwill is a intangible assets

Rozatkar Hemant answered Jun 01, 2020
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

Abhishek Mishra answered Mar 24, 2020
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.

Rudra Raj answered Jun 18, 2020
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

Saroj Pandey answered Jun 10, 2020
Intangible means something which cannot be seen and touched hence Goodwill is considered as intangible asset because we can only feel it

Ravi Yadav answered Apr 18, 2020
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

Simarjeet Singh answered Apr 13, 2020
The best answer for this question is that Goodwill has a realisable value that's why it is an intangible asset.

Kalpana Thakur answered 3 weeks ago
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

Priya Pallawi answered May 06, 2020
Goodwill is intangible asset as it cannot be touch and its effect can be felt in its result.

Vikram Singh answered 2 weeks ago
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.

Neha answered Nov 22, 2018
Because it can not been seen or touched by us.

Suraj R Tiwari answered Jun 26, 2020
Because it can't be touch and fill but we can use it to grow the reputation of the business

Abhishek S answered Jun 29, 2020
I don't know

Shashank Sharma answered May 01, 2020
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

Harshit Nagwani answered Jun 15, 2020
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.

Kartika Singh answered Apr 13, 2020
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

Antipoya Maitizon answered Jul 10, 2020
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

Keshav School answered Jul 03, 2020
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.

Jatin Sachdeva answered 1 week ago
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.

Dhanya Sree answered Jun 29, 2020
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..

Kajol Das answered Jul 03, 2020
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.

Satyapal Singh answered May 03, 2020
Good will can't be touched it can be felt and is intangible asset

Anil Pastor answered Jul 02, 2020
Because fictitious assets can seen and goodwill can never be seen

Gaurav Kumar answered Apr 15, 2020
Nice teaching

Popoola Abdulhafeez answered May 22, 2020
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.

Rhea Pant answered Nov 24, 2018
Fictitious assets like advertisement suspense have no realisable value whereas Goodwill has a realisable value

Chahat Sharma answered May 01, 2020
Goodwill is can't seen or touch so it is considered as intangible asset

Mini Dhillon answered 4 weeks ago
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

Romi Kapoor answered May 16, 2020
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

Ganavi Shiv answered May 07, 2020
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

Tript Kushwaha answered May 28, 2020
Good will cannot see or touch it is a intangible asset

Tanishka Vats answered May 01, 2020
Because godwilll hase no physical property so it is intangible asset

Shubhangi Erande answered Jun 04, 2020
Goodwill cannot have physical existence and fictitious assets cannot realised in cash or no further benefit derived in fictitious assets. eg. Advertisement expenses.

Shreya Sehgal answered Jun 28, 2020
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. 

Krishma Rajput answered May 08, 2020
Goodwill is asset because we can not touch and can't see so goodwill is intangible assets

Shobha Singh answered May 08, 2020
Because we can't se or touch the goodwill so that's why goodwill is intangible

Anime World answered Nov 30, 2018
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

Sandeep Kumar answered Jun 13, 2020
Goodwill can not be measured too

Dharti Shingala answered May 27, 2020
Goodwill is firms prestige and it is intangible asset. therfore we can't touch or see it. so it is considered as intangible assets

Ranvir Mishra answered Mar 24, 2020
Which don't have physical existence and can't touch seen and feels

Baruahjyoti Kalpa answered 4 weeks ago
Because they are assets of the company which helps in earning profits but intangible assets

Nikita Narang answered 2 days ago
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

Reeta Das answered Jun 13, 2020
Goodwill is an assets which we cannot be seen or touched wecan only feel it so it is intangible assets

Shambhavi Atgarha answered Jul 02, 2020
Goodwill cant be touched and can't be seen so it is an intangible asset and not a fictitious asset

Anish Jain answered Jun 29, 2020
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.

Vani Chuki answered Jul 03, 2020
Good will is intangible assets because we can't see it or we can't touch it

Arti Nagar answered Jun 29, 2020
Because it have no physical existence. That's why it considered as a intangible asset.

Srushti Urabhinavar answered Jun 28, 2020
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.

Harleen Kaur answered Jun 24, 2020
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

Sumit Agarwal answered Jul 04, 2020
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.

Dimple Julka answered 4 weeks ago
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..

Anushka Sabharwal answered Jun 29, 2020
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.

Virendra Jangir answered Jun 14, 2020
Goodwill can be sold at market and have a market value so it is a intangible assets.

Amiyra Arora answered May 24, 2020
Goodwill can be felt bocoz it can't be touched

Huzaifa Arthuna answered May 30, 2020
Because Goodwill is intengible assets not a fictitious assets

Singh Satnam answered May 26, 2020
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

Lovely Yadav answered Jun 29, 2020
Goodwill is a intangible asset

Shyamali Sen answered Jun 25, 2020
Intangible because it cannot be seen and touch

Neeraj Gupta answered Jun 24, 2020
Goodwill is intangible asset as it cannot be touch and its effect can felt in its result.

Vtisgaonkar16 Tisgaonkar answered Jun 29, 2020
Its an abstract we can say as we cant see nor touch

Rishabh Bhatia answered 2 weeks ago
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!!!

Kirandeep Kaur answered May 16, 2020
Because it can not be seen or touched so it's a intangible asset.

Anshika Agrawal answered 4 weeks ago
Fictitious asset doesn't have a market value but goodwill have

Harshitha Harshitha answered Jun 17, 2020
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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