Difference between fictitious and intangible assets
This query is : Resolved
12 February 2014
can anyone please tel me the difference between fictitious and intangible assets?
in f.m, there's a sentence
'intangible assets should be included in the capital employed but no fictitious asset should be included within capital employed'
what does this mean?
please help
12 February 2014
Mr nidhi,
Fictitious means which does not exist in any direct or indirect form.An intangible asset is an asset or an advantage that really exists.Examples of intangible assets are :Exim scrip,REP licence,copy rights,patents,export quotas etc.These intangible assets exist on paper and can be passed on or shared with another person. There are some fictitious assets like goodwill,brandname etc which do not exist on paper,but for using the same some money has been paid.....mjk
Fictitious means which does not exist in any direct or indirect form.An intangible asset is an asset or an advantage that really exists.Examples of intangible assets are :Exim scrip,REP licence,copy rights,patents,export quotas etc.These intangible assets exist on paper and can be passed on or shared with another person. There are some fictitious assets like goodwill,brandname etc which do not exist on paper,but for using the same some money has been paid.....mjk
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ECO SUPPLY REPORTIONG IN GSTR-1
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- Subscription paid to foreign customer
- Two seprate Invoice needed
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
