Goodwill:
A) is the collective name for the unidentifiable assets of an entity.
B) may not be recognised as an asset.
C) is the collective name for identifiable assets.
D) includes trademarks and brand names.

Question

Quizplus · Accepted Answer

Goodwill is considered the collective name for the unidentifiable assets of an entity, such as reputation, customer loyalty, and other intangible factors that contribute to a company's value but are not separately identifiable.