Accounting · Intangible Assets
As per standard accounting guidelines (such as AS 26 / IAS 38), when can Goodwill be explicitly recognized and recorded in the books of accounts of an enterprise?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1At the time of preparing the annual financial budget
- 2When a company achieves consecutive super profits for three financial years
- 3Only when some consideration in money or money's worth has been paid for it✓
- 4Whenever management internally estimates its market value
Correct answer
Only when some consideration in money or money's worth has been paid for it
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