It cannot be touched and felt and therefore, goodwill is an intangible asset. Fictitious assets on the other hand, are the expenses or losses which are still to be charged from the profit and therefore, cannot be classified as tangible or intangible.
Why goodwill is called intangible asset? Explain
Number of replies: 1
In reply to Abdullah Al Naeem 193-15-13453
Re: Why goodwill is called intangible asset? Explain
by Shahana Kabir -
Good observation.Thanks for reply.