Goodwill is:
A) an intangible asset, as defined in AASB 138.
B) future economic benefits arising from assets that are not capable of being separately recognised or individually identified
C) determined as being the excess of the fair value of the identifiable net assets acquired over the cost of an acquisition.
D) recognised by the acquirer, at acquisition date, as an asset in its own books.

Question

Quizplus · Accepted Answer

Goodwill represents future economic benefits from assets that cannot be individually identified or separately recognized, typically arising in business combinations.

Goodwill Is