Multiple choice

Goodwill is a/an

  1. tangible asset

  2. intangible asset

  3. ficitious asset

  4. current asset
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Goodwill is an intangible asset because it has value but no physical form. It represents the reputation and brand value of a business that allows it to earn higher profits than a similar new business.

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