Question 17 of 45
Q.What is self-generated Goodwill ?
Puducherry TnboardTamil Nadu HSC (DGE) Commerce Board 2020Subjective· 2mImportance★★★★★
38% · 17/45 Questions
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Start your 14-day free trial to unlock the full solution →Self-generated goodwill is internally created goodwill, earned by a firm's own reputation and efforts over time, and not purchased.
Self-generated goodwill (also called inherent or internally generated goodwill) is the goodwill that a business builds up by its own efforts over a period of time — through quality products/services, good customer relations, favourable location, efficient management and a strong reputation.
Key points:
- It is not purchased — no consideration is paid for it (unlike purchased goodwill acquired on buying a business). …
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