Question : An asset which is not fictitious, but intangible in nature having realizable value is known as
Option 1: Building
Option 2: Goodwill
Option 3: Machinery
Option 4: Vehicle
Correct Answer: Goodwill
Solution : Answer = Goodwill
Goodwill is an intangible asset representing the reputation, brand value, and customer relationships of a business. Unlike fictitious assets, which have no tangible existence, goodwill holds realizable value as it contributes to the profitability and long-term success of the company through increased customer loyalty and market competitiveness. Goodwill has realizable value. Hence, the correct option is 2.
Question : Which of the following is not true in relation to Goodwill?
Option 1: It is an intangible asset
Option 2: It is a fictitious asset
Option 3: It has a realisable value
Option 4: All of these
Question : Goodwill and copyright are examples of which assets?
Option 1: Liquid asset
Option 2: Current asset
Option 3: Fixed asset
Option 4: Intangible asset
Question :
A charge created on definite assets of a permanent nature, such as land, building, machinery, etc., is known as-------------
Option 1: Fixed charge
Option 2: Floating Charge
Option 3: Interest
Option 4: Fixed assets
Question : These assets provide little or low return. Which type of asset is highlighted in the given statement?
Option 1: Fixed asset
Option 2: Tangible asset
Option 3: Current asset
Question : Loss on issue of debenture is treated as
Option 1: Intangible Asset
Option 2: Current Asset
Option 3: Current Liability
Option 4: Miscellaneous Expenditure
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile