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.
In reply to Rajashee 193-15-13495
Re: Why goodwill is called intangible asset? Explain
by Shahana Kabir -
Thanks for reply.