What is goodwill and what is it's charactersticies
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Goodwill in accounting is an intangible asset that arises when a buyer acquires an existing business. Goodwill represents assets that are not separately identifiable.
Characteristics of Goodwill are:-
1) It is an intangible asset as it connot be seen or touched but it's presence can be felt.
2) It is not a ficticious asset
3) It cannot be sold solely as it cannot be separated from the business.
4) The value of goodwill fluctuates frequently.
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tangible asset
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