Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Admission of a Partner

Question:
What type of asset is Goodwill?
Options:
Tangible Asset
Intangible Asset
Current Asset
Fictitious Asset
Correct Answer:
Intangible Asset
Explanation:
Goodwill is an intangible asset that is associated with the purchase of one company by another.