| Assertion [A] : |
| Goodwill is an intangible asset but not a fictitious asset. |
| Reason [R] : |
| Goodwill does not have physical existence. Fictitious assets are not realizable whereas goodwill can be purchased or sold. |
| Choose the Correct Option from the following: |
A) Assertion and Reason both are correct and Reason is the correct explanation of assertion
B) Assertion and Reason both are correct but Reason is not correct explanation of assertion
C) Both Assertion and Reason are not correct
D) Reason is correct but Assertion is not correct
Correct Answer: A
Solution :
Assertion and Reason both are correct and Reason is the correct explanation of assertion
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