Goodwill is nothing more than probability that the old customer will resort to the old place. This definition of goodwill was given by:

Related MCQs

• Goodwill is to be calculated at one and half year’ purchase of average profit of last 5 years. The firm earned profits during 3 years as ₹ 20,000 ₹ 18,000 and ₹ 9,000 and suffered losses of ₹ 2,000 and ₹5,000 in last 2 years. The amount of goodwill will be
• When there is no Goodwill Account in the books and goodwill is raised,…………….account will be debited Sol:
• ) A Receipts and Payments Account is nothing but a summary of all capital receipts and payments.
• Goodwill is a
• In the case of joint stock company, goodwill is sown on the asset side under the head
• In the case of joint stock company, goodwill is shown on the asset side under the head.
• Goodwill is a
• Goodwill A/c is a/an —
• Goodwill is defined as Sol:
• A firm’s goodwill is not affected by Sol: