Goodwill is a/an:

The correct answer is Option (4) → Intangible asset

Goodwill is the value of a firm’s good name, connections and ability to earn more than normal profits. It has no physical form, yet it is valuable and can be bought or sold with the business, so it is an intangible asset. It is not fictitious (it has real value), not tangible, and not liquid (it cannot be turned into cash on its own).