Intangible liability

This query is : Resolved

ravi (Querist)
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24 October 2009
Dear sir/madam,

Please give explanation about the when intangible liability arise and what is clear definition regarding this

Shyam Lal Naik

Shyam Lal Naik (Expert)
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24 October 2009 Sir,

The term "intangible" refers to something which does not have physical presence, but posesses economic value.

Example of intangible assets is goodwill etc.

Going by the literal interpretation, may be, all liabilities are intangible, as they lack physical form.

ravi

ravi (Querist)
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24 October 2009 Thanks for u r message but i expect some more explanation

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