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
- ITR 2 Short Term gain & Long term gain
- Itr 1 processing
- Reporting Income under Section 44ADA
- Off Market debit and credit transaction
- ITR returnFY25-26
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR validation error - Balance sheet is not filled
- ITR 1: Details for showing Exempt Income
- Bank Accounts in Balance Sheet for ITR 3
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- 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
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
