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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  


Team Careers360 2nd Jan, 2024
Answer (1)
Team Careers360 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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