{"id":464,"date":"2024-03-05T14:59:24","date_gmt":"2024-03-05T14:59:24","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=464"},"modified":"2024-03-05T14:59:24","modified_gmt":"2024-03-05T14:59:24","slug":"as-per-indian-accounting-standards-26-goodwill-is-a-an","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/as-per-indian-accounting-standards-26-goodwill-is-a-an\/","title":{"rendered":"As per Indian Accounting Standards 26 Goodwill is a\/an :"},"content":{"rendered":"

[amp_mcq option1=”Fictitious Asset” option2=”Intangible Asset” option3=”Floating Asset” option4=”wasting Asset ” correct=”option2″]<\/p>\n

The correct answer is (b), Intangible Asset.<\/p>\n

Goodwill is an intangible asset that arises from factors such as the reputation of a business, the relationships between the business and its customers and suppliers, and the business’s competitive advantages. It is not a physical asset, but it can have a significant value.<\/p>\n

Fictitious assets are assets that do not have a physical existence, but are recorded on the balance sheet because they have economic value. Examples of fictitious assets include goodwill, patents, and trademarks.<\/p>\n

Floating assets are assets that are constantly changing in value, such as inventory and accounts receivable.<\/p>\n

Wasting assets are assets that lose their value over time, such as natural resources and machinery.<\/p>\n

I hope this helps!<\/p>\n","protected":false},"excerpt":{"rendered":"

[amp_mcq option1=”Fictitious Asset” option2=”Intangible Asset” option3=”Floating Asset” option4=”wasting Asset ” correct=”option2″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[85],"tags":[],"class_list":["post-464","post","type-post","status-publish","format-standard","hentry","category-accounting","no-featured-image-padding"],"yoast_head":"\nAs per Indian Accounting Standards 26 Goodwill is a\/an :<\/title>\n<meta name=\"description\" content=\"Goodwill is an intangible asset that arises from factors such as the reputation of a business, the relationships between the business and its customers and suppliers, and the business's competitive advantages. 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