Accounting · Corporate Accounting
Which of the following represents the correct accounting journal entry for recording purchased goodwill upon the acquisition of a business enterprise?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1Debit Capital Reserve Account, Credit Goodwill Account
- 2Debit Net Assets Account, Credit Goodwill Account
- 3Debit Goodwill Account, Credit Capital Reserve Account
- 4Debit Goodwill Account, Credit Cash/Bank Account✓
Correct answer
Debit Goodwill Account, Credit Cash/Bank Account
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 Corporate Accounting MCQs →Want more practice questions on Corporate Accounting?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Accounting · Corporate Accounting