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Goodwill is not a ……..
- a)Fixed Asset
- b)Intangible Asset
- c)Fictitious Asset
- d)None of these
Correct answer is option 'C'. Can you explain this answer?
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Verified Answer
Goodwill is not a ……..a)Fixed Assetb)Intangible Assetc)F...
Goodwill is an intangible asset associated with the purchase of one company by another. Specifically, goodwill is recorded in a situation in which the purchase price is higher than the sum of the fair value of all identifiable tangible and intangible assets purchased in the acquisition and the liabilities assumed in the process. The value of a company’s brand name, solid customer base, good customer relations, good employee relations, and any patents or proprietary technology represent some examples of goodwill.
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Goodwill is not a ……..a)Fixed Assetb)Intangible Assetc)F...
Goodwill is considered as an intangible assets of the firm . It means it cannot be seen and touch like other asset of the firm. It does not have any physical existence. on the contrary fictitious asset are neither tangible or intangible assets.
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Goodwill is not a ……..a)Fixed Assetb)Intangible Assetc)F...
Goodwill is an intangible asset which comes under the heading of fixed assets. It is not a fictitious asset (for more detail see ultimate book of accountancy).
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Goodwill is not a ……..a)Fixed Assetb)Intangible Assetc)Fictitious Assetd)None of theseCorrect answer is option 'C'. Can you explain this answer?
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