Answer Posted / 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.

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