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Define goodwill?four type of goodwill

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Define goodwill?four type of goodwill

Posted by Abhishek Sharma 6 years, 1 month ago

CBSE > Class 12 > Accountancy

2 answers

Abhishek Sharma 6 years, 1 month ago

Aveage profit method ,super profit method, capitalisation method.

Yogita Ingle 6 years, 1 month ago

It is the reputation of a firm which enables it to earn higher profits in comparison to the normal profits earned by other firms in the same business.

There are two distinct types:

Purchased: Purchased goodwill is the difference between the value paid for an enterprise as a going concern and the sum of its assets less the sum of its liabilities, each item of which has been separately identified and valued.
Inherent: It is the value of the business in excess of the fair value of its separable net assets. It is referred to as internally generated goodwill and it arises over a period of time due to the good reputation of a business.

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