CUET Accountancy - Which statement among the following is NOT true about Goodwill? | PYQs + Solutions

CUET Accountancy 2025 3 June Shift 2

Partnership

Medium

common

Goodwill is the value of the reputation of a firm in respect of the profits expected in future, over and above the normal profits.

Goodwill is the capitalized value attached to the differential profit capacity of a business.

Goodwill can exist when the firm does not earn super profits, means any firm that earns normal profits or is incurring losses has goodwill

Goodwill is an intangible asset.

✅ Correct Option: 3

CUET Accountancy 2025 3 June Shift 2 PYQs