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JAMB Accounting 2008 Objective — Question 41

Question 41 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2008 Objective paper, with the correct answer and a full explanation.

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Goodwill can be in the balance sheet as a

  • A. fixed tangible asset
  • B. current asset
  • C. fictitious assetCorrect
  • D. liquid asset

Explanation

Goodwill is fictitious asset because it cannot be seen but exists.

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