Question

Why is Goodwill considered as an Intangible Asset and not a Fictitious Asset ??​

Answer 1

answer: Goodwill is an intangible asset because it have not any physical firm and we can't see and touched it . 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.

Answer 2

Answer:

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.

Explanation:

I hope it helps you ☺️