which of the following self generated intangible asset can be recorded in books of account
a)goodwill
b)technical know-how
c)software
d)all of the above
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The self-generated intangible asset present in the books of account is Goodwill.
In a company’s balance sheet, account of goodwill is present in the assets section.
It is an intangible asset because it cannot be viewed and altered.
Good will emerges when another business is entirely acquired by a company.
So, the correct option is A.
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Goodwill is the self generated intangible asset can be recorded in books of account
Explanation:
- Goodwill in my opinion is described as one of the aggregates of intangible attributes or intangible assets of a business which will contribute to a higher earning capacity from a normal return of any investment made by the firm.
- Goodwill can be acquired when a person or an entity purchases in other business or acquires another business.
- Goodwill is valued on multiple different bases.
- Goodwill can be valued on the basis of ability, skill employee’s management, quality of the products or services of the company customer satisfaction and the name of the company itself. Therefore, it's an intangible asset.
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