Question

Assets which are not recorded in the books of accounts. Answer in a word / phrase / term.

Answer 1

Hey mate✌️✌️✌️


Assets which are not recorded in the books of accounts⤵️⤵️⤵️⤵️

(Unrecorded Assets)

Answer 2

● Intangible assets are generally not recorded in the books of accounts.

● There are two types of assets namely tangible assets and intangible assets.

● Assets which have physical existence/ value are considered as tangible assets. ●Intangible assets doesn't exist physically like reputation/ goodwill of the company, brand value of its products.

●These types of intangible assets are generally not recorded in the balance sheet.