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Goodwill

Can goodwill be recorded as goods? Attachment que 2

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Nandini S

Nandini S

CA Foundation

1K+

30-Apr-20 19:42

98

Answers (4)

No Goodwill is an intangible asset and it is not covered under definition of goods. Goods means every kind of MOVABLE property.


M Narendra

M Narendra

CA Inter

4K+

30-Apr-20 20:30

M Narendra

No Goodwill is an intangible asset and it is not covered under definition of goods. Goods means every kind of MOVABLE property.

But u can see in the above que that actionable claims are not goods that means the remaining option i.e goodwill is considered as good and also u may have known the fact patents can be sold or purchased so goodwill can't be also sold or purchased ? But I am confused abt the correct ans


Thread Starter

Nandini S

Nandini S

CA Foundation

1K+

30-Apr-20 20:58

Goodwill is not covered under definition. But several courts held that goodwill , copyrights and patents are included in the definition of goods. So answer is option B and sorry for previous explanation


M Narendra

M Narendra

CA Inter

4K+

30-Apr-20 22:02

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