Question

goodwill of a firm is included in wealth . give reason
​

Answer 1

Answer:

Goodwill is actually the excess price a firm can get during the sale of the business, over and above the identifiable net assets of the firm. So if the fair market price is more than the net assets (assets minus liabilities) during the sale of the firm, then this difference is the goodwill of the firm.

I hope it will be helpful to you friend