Goodwill is a compensation paid for the reputation established by a business. It can be realised only at the time of an acquisition. Hence, it is termed as an Imaginary Asset. A reputed organization will obviously be acquired at a higher rate than their original value due to the high regard it has earned over the course of time.
Available in all mobile platforms© 2021, Zoho Corporation Pvt. Ltd. All Rights Reserved.
Manage your business accounting online