JAMB Accounting 2021 Objective — Question 29

Question 29 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2021 Objective paper, with the correct answer and a full explanation.

29. Goodwill is a. Fixed asset b. Current asset c. Current liability d. Intangible asset

A. Fixed asset
B. Current asset
C. Current liability
D. Intangible assetCorrect

Explanation

Goodwill is the reputation a business has built up over the years; when valued, it is treated as an intangible asset.

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