6
Question
What is the extra amount over and above the values of the identifiable assets in a going concern is known as?
What is the extra amount over and above the values of the identifiable assets in a going concern is known as?
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Solution
The correct option is A Goodwill
The amount that is paid in excess is known as goodwill. Unlike physical assets such as building and equipment, goodwill is an intangible asset that is listed under the long-term assets of the acquirer's balance sheet. It cannot be sold or transferred separately from the business as a whole.
The amount that is paid in excess is known as goodwill. Unlike physical assets such as building and equipment, goodwill is an intangible asset that is listed under the long-term assets of the acquirer's balance sheet. It cannot be sold or transferred separately from the business as a whole.
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