Question

Goodwill whether self generated or purchased will be shown in the assets side of the balance sheet. True or false. Explain​

Answer 1

Answer:

True. Purchased goodwill should be included in the balance sheet as an intangible Asset and should be written off in the statement of profit and loss over the period of 5 years or over the life of the asset as the case maybe.

Explanation:

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Answer 2

Answer:

true

Explanation:

purchase shpuld be included inbalance of sheet