• Classification of Assets in Financial Accounting:
• Fixed Assets $\rightarrow$ (I) Goodwill: Long-term assets acquired for continuing business operations rather than resale; goodwill is an intangible fixed asset reflecting enterprise brand value and super-profit capacity.
• Current Assets $\rightarrow$ (II) Prepaid Expenses: Short-term assets expected to be realized in cash or consumed within one operating cycle; prepaid expenses represent future economic benefits paid in advance.
• Fictitious Assets $\rightarrow$ (III) Discount on issue of debentures: Unwritten-off deferred revenue expenditures or accumulated capital losses that carry no real resale value (accounting balances carried forward).
• Liquid Assets $\rightarrow$ (IV) Bills receivables: Assets that can be converted into cash rapidly without significant value loss ($Liquid Assets = Current Assets - [Stock + Prepaid Expenses]$).
• Correct Match: (A)-(I), (B)-(II), (C)-(III), (D)-(IV), corresponding to Option 1.

Correct option: (1) (A) - (1), (B) - (I), (G) - (MN), (D) - (IV)