Accounting · Accounting Standards
According to AS-14 (Accounting for Amalgamations), goodwill arising on amalgamation in the nature of purchase should be:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1charged completely to the Profit and Loss statement immediately in the year of acquisition
- 2amortised to income on a systematic basis over its useful life✓
- 3adjusted directly against General Reserve
- 4retained indefinitely in the balance sheet without amortisation
Correct answer
amortised to income on a systematic basis over its useful life
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for Accounting?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice Accounting Standards MCQs →Want more practice questions on Accounting Standards?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Accounting · Accounting Standards