Question : Assertion (A): Goodwill belongs to the category of intangible assets such as patents, trademarks, copy rights, etc. Reason (R): Goodwill cannot be seen or touched.
Option 1: Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A)
Option 2: Both Assertion (A) and Reason (R) are true but Reason (R) is not the correct explanation of Assertion (A)
Option 3: Assertion (A) is true but Reason (R) is false
Option 4: Assertion (A) is false but Reason (R) is true
Correct Answer: Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A)
Solution : Goodwill belongs to the category of intangible assets such as patents, trademarks, copy rights, etc, and Goodwill cannot be seen or touched. Hence, the correct option is 1.
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