Q.Goodwill which cannot be recorded in the books of accounts :

Goodwill is the money value of a firm's reputation — its ability to earn profits higher than the normal rate that a comparable firm in the same line of business would earn. It arises from factors such as a favourable location, product quality, efficient management, market standing, and a stable, rising trend of past profits, but none of these is measured directly; instead, they show up in the level and consistency of the firm's actual profits. Goodwill is intangible (it cannot be seen or touched) yet it is a genuinely valuable asset, because a buyer would pay extra for it over the value of the firm's tangible assets. …