Goodwill

Goodwill can be classified into which features

• Purchased good

• Self generated goodwill

• Both

Super profit method is for goodwill valuation

• Super profit ,multiply by no.of year

• Average profit multiply no.of years

• None of the options

Purchased goodwill is

• Assets - profits

• Assets - liability

• Both

Which goodwill is recorded in books of accounts

• Self generated goodwill

• Purchased goodwill

• Both

When does valuation of goodwill is needed

• On retirement or death of partner

• Admission of partner

• None of above

• Both

Which factors affecting the valuation of goodwill

• All the options

• Quality of products

• Location of goodwill

• Efficient management

The the amount of super profit is negative , then what does it indicates

• There is average goodwill

• There is no goodwill

• None

• Both

What are the methods of valuation of goodwill

• Super profit method

• Capitalisation method

• Average profit method

• All the above

Goodwill is an

• Tangible assets

• Intangible assets

• Current asset

• Fictitious asset

Following are the factors effects goodwill except

• Nature of bussiness

• Nature of goods

• Efficiency of management

• Location of customers