Question

Goodwill A/c is a/an ___________.

• A. tangible asset
• B. intangible asset
• C. fictitious asset
• D. none of the above

Answer 1

Answer: (B)

intangible asset

Assets my be of two types i.e. tangible assets and intangible assets.

Tangible assets are those assets of which we can feel the physical existence like machinery, building etc.

Intangible assets are those which we can not physical see like Goodwill , copy rights etc but these are assets of the organization.