Question

Is Goodwill a long-term asset?

Answer 1

Goodwill is a long term (or noncurrent) resource sorted as an intangible resource. It emerges when an organization procures another whole business. The sum in the Goodwill record will be changed in accordance with a more modest sum in case there is an impairment in the worth of the procured organisation starting as of the balance sheet report date.

Also see:

• Methods of Valuation of Goodwill
• What is Goodwill?
• MCQs on Goodwill