CUET Preparation Today
| What we called a monetary value of reputation of the business? |
Goodwill A/c Super Profit Surplus Abnormal Profit |
| Goodwill A/c |
| In accounting, the monetary value of such advantage is known as "goodwill". It is regarded as an intangible asset. In other words, goodwill is the value of the reputation of a firm in respect of the profits expected in future over and above the normal profits. |
