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Pick up the correct answer from the given choices(only one correct answer):


Q. Goodwill is

  • a)
    a current asset

  • b)
    an intangible fixed asset

  • c)
    a tangible fixed asset

  • d)
    an investment.

Correct answer is option 'B'. Can you explain this answer?
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Most Upvoted Answer
Pick up the correct answer from the given choices(only one correct ans...
Goodwill is the Reputations of the firm , it's helpful the increase maximisation of the profits but it's are intangible.accourdence IFRS 3 and its outside scope of AS 38 goodwill is the Intangible assets
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Pick up the correct answer from the given choices(only one correct ans...
Goodwill refers to the value of a business's reputation, customer relationships, brand recognition, and other non-physical assets that contribute to its earning potential. It is classified as an intangible fixed asset because it does not have a physical presence but still holds significant value for the business.
  • A: a current asset: This is incorrect. Goodwill is not a current asset, as it is not expected to be converted into cash or consumed within one year.
  • B: an intangible fixed asset: This is correct. Goodwill is categorized as an intangible asset, and it is considered a fixed asset because it is expected to provide long-term benefits to the company.
  • C: a tangible fixed asset: This is incorrect. Goodwill is not tangible, as it cannot be seen or touched.
  • D: an investment: While goodwill may be related to investments in a business, it is specifically classified as an intangible fixed asset.
Therefore, the accurate classification of goodwill is B.
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Pick up the correct answer from the given choices(only one correct answer):Q. Goodwill isa)a current assetb)an intangible fixed assetc)a tangible fixed assetd)an investment.Correct answer is option 'B'. Can you explain this answer?
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