Question : As per __________, only purchased goodwill can be shown in the Balance Sheet:
Option 1: AS 37
Option 2: As 26
Option 3: Section 37
Option 4: AS 37
Answer (1)
8th Jan, 2024
Correct Answer: As 26
Solution : Answer = AS 26
As per AS 26 (Accounting Standard 26) titled "Intangible Assets," only purchased goodwill can be shown in the balance sheet. This standard provides guidelines on the recognition, measurement, presentation, and disclosure of intangible assets, including goodwill, ensuring consistency and transparency in financial reporting.
Hence, the correct option is 2.
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