Under the accounting standards internally generated goodwill should:
A)not appear as an asset on the balance sheet.
B)should appear on the balance sheet as a current asset.
C)should appear on the balance sheet as a non-current asset.
D)should appear on the balance sheet as equity

Question

Quizplus · Accepted Answer

Internally generated goodwill is not recognized as an asset on the balance sheet because it does not meet the recognition criteria for intangible assets under accounting standards.

Under the Accounting Standards Internally Generated Goodwill Should