Fill in the Blank
2. Goodwill is not valued by the
firm at the time of
_when?
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1
Answer:
Goodwill is not valued by any firm at the time of dissolution of the business.
Explanation:
Goodwill is known as an intangible asset in accounts. It is said to be purchased by a company from a company as a gesture. It determines the potential value of a certain company. It can not be touched as it is intangible. Hence, when a firm is dissolved, we do not need the valuation of the goodwill as it can not be shared among the partners or the shareholders.
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