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 April 18, 2023
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 April 18, 2023