Answer / rahul dev

Goodwill is a thing which is not so easy to describe but in general words good-name, reputation and wide business connection which helps the business to earn more profits than the profit could be earned by a newly started business. The monetary value of the advantage of earning more profits is known as goodwill. Goodwill is an attractive force, which brings in customers to old place of business. Goodwill is an intangible but valuable asset. In a profitable concern it is not a fictitious asset.

Answer / gopal ch. saha.

Goodwill is intangible assets. and to calculate goodwill we
use valuation of goodwill method.

Answer / akanksha saini

Goodwill was originally used to reflect the fact that an
ongoing business had some "prudent value" beyond its assets,
such as the reputation the firm enjoyed with its clients.
Likewise, a buyer may agree to "overpay" because he sees
potential synergy with his own business. The accounting sense
of goodwill followed as a possible explanation of why a firm
sells for more than the value of its current assets.

Answer / bhaskar

When the company aquire an asset for a price higher than the book value then my called as goodwill

Answer / swetha

its an asset to company.

Answer / k,subbareddy

good will means getting out without our will

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