Multiple choice Goodwill is the value of reputation which the firm establishes overtime which the firm earns due to integrity, efficient service to the customers the value of reputation earned by the firm due to quality of its products, industry, etc. All of the above Reveal answer Fill a bubble to check yourself D Correct answer Explanation Option (4) is correct: Goodwill is a non-tangible asset in the form of reputation due to any of the above reasons. It can be quality of goods, customer’s satisfaction or anything which built good image of the company.