Goodwill is not accounted in the books if
Goodwill is not accounted in the books if
a) It is a Purchased Goodwill
b) It is a self-generated Goodwill
c) It is decided to be accounted by the partners
d) Its amount is paid by the gaining partner.
Anurag Pathak Changed status to publish
Ans – b)
Explanation:-
As per the AS – 26, Self-generated goodwill is not recorded in the books as no consideration is paid against it.
Anurag Pathak Changed status to publish
