Question : Which of the following is not true in relation to Goodwill?
Option 1: It is an intangible asset
Option 2: It is a fictitious asset
Option 3: It has a realisable value
Option 4: All of these
Answer (1)
25th Jan, 2024
Correct Answer: It is a fictitious asset
Solution : Goodwill is not a fictitious asset but it is an intangible asset. For example, the loss is a fictitious asset because it has no realizable value. Hence, the correct option is 2.
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