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what is the difference between intangible assets and
fictious assets
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Answer / harsha
Very often these two terms are considered identical but
there is significant difference between these two terms.
Intangible assets refer to those fixed assets that have no
physical status at all viz, goodwill, patentright,copyright
etc . The Intangible assets are written off after a
specified period Fictitious assets also have no physical
existence but they only include the assets having the nature
of deffered revenue expenditures viz, deffered advertisement
expenses, discount on issue of shares or debentures. These
are the assets out of which benefit or profit for more than
one accounting is availed. The main reason for confusion is
that both have no physical status but the discussions above
are big enough for all to understand the difference between
the two terms.
| Is This Answer Correct ? | 43 Yes | 12 No |
Answer / sattu mallaiah
Intangible assets: trhis assets dont have a physical
identity. this assets we dont touch and we cant see.
This assets arising from with business conections.
Ex:goodwill,patents,copyrights,Tradmarks.
Ficticious assets: this assets under the asset side in the
balance sheet which has no real value.
EX:preliminery Expenses,Debt balace P& L Accounts.
| Is This Answer Correct ? | 24 Yes | 8 No |
Answer / sreedhaam
Intangible assets are basically fixed assets that have no
physical status (e.g. goodwill, patentright,copyright
etc) . Fictitious assets also have no physical existence
but they only include the assets having the nature of
deffered revenue expenditures (e.g. deffered advertisement
expenses, discount on issue of shares or debentures).
| Is This Answer Correct ? | 4 Yes | 2 No |
Answer / zia muhammad
Fictitious assets-fictitious assets are deffered revenue expenditure whose benefit is derived over long period of time.Even accumalated losses are also fictitious assets as they are written off over a period of time.All fictitious assets are intangible but all intangible assets are not fictitious.ex goodwill.patents,trademarks,copyrights are intangible but not fictitious.following are the examples of fictitious assets are-preliminary expenses,discount on issue on debenture and shares,underwriting commission,miscellaneous expenditure,profit and loss(dr
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / atul rana
Intangible assets: trhis assets dont have a physical
identity. this assets we dont touch and we cant see.
This assets arising from with business conections.
Ex:goodwill,patents,copyrights,Tradmarks.
Ficticious assets: this assets under the asset side in the
balance sheet which has no real value.
EX:preliminery Expenses,Debt balace P& L Accounts
| Is This Answer Correct ? | 3 Yes | 3 No |
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