Question

Why goodwill is considered a intangible asset and not a fictitious asset?

Answer 1

Explanation:

Goodwill is considered as an intangible asset of the firm. It does not have any physical existence. ... On the other hand, fictitious assets are neither tangible nor intangible assets. They are the expenses or losses which are still to be charged (debited) from the profit

Answer 2

because we can't touch and feel it but we can experience it but it is our asset but in case of fictitious assets we treat it like assets these are not real assets