Question

Features of purchase and non purchase goodwill and non purchase goodwill

Answer 1

Answer:

Distinguish between purchased goodwill and non purchased goodwill?

It arises on the purchase of a business .

It is shown as an asset in the balance sheet.

It is amortised at the earliest . AS-26, Intangible assets prescribes that normally tangible assets should be written off within 10 years.