Question : Choose Which of the following statements is incorrect in respect of goodwill?
Option 1: Fictitious asset
Option 2: An intangible asset
Option 3: Both 1 and 2
Option 4: None of the above
Correct Answer: Fictitious asset
Solution : Answer = Fictitious asset
Goodwill is not a fictitious asset; it is a genuine intangible asset representing the reputation, brand value, and customer loyalty of a business. It's recognized on the balance sheet when a company is acquired for a price greater than the fair market value of its net assets. Hence, the correct option is 1.
Question : Which of the following is not true in relation to Goodwill?
Question : An asset which is not fictitious, but intangible in nature having realizable value is known as
Question : Goodwill and copyright are examples of which assets?
Question : Aggregate supply = ________________
Question : Increase in value of Goodwill means___________
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile