In intangible assest, patents ,trade marks,copy rights we
can feel or some thing can be done but what about goodwill?
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Answer Posted / s.srinu
Good will is the intangible asset
Means Brand & name of the company
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outstanding expenses are the expenses that "unpaid"at the end of the accounting period e.g.salaries rent so they all come to under nominal accounts which is debt all expenses and losses and credit all gains since they are unpaid hence they must be credited
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