Practicing Success
Goodwill falls under which category of assets: |
Current Assets Tangible Assets Fictitious Assets None of the above |
None of the above |
Goodwill is an intangible asset, but also a capital asset. The value of goodwill refers to the amount over book value that one company pays when acquiring another. Goodwill is classified as a capital asset because it provides an ongoing revenue generation benefit for a period that extends beyond one year. |