Goodwill is an intangible asset then how it is given to partners

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Solution

Dear student
Goodwill is an intangible asset having definite value" because Goodwill does not have physical existence like other fixed assets. It is reputation of the firm which is earned by its honesty, quality or brand image.
It is ascertained by different methods for its valuation, which will give a definite amount. This amount may vary from year to year.
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