Question

Sale of ‘goodwill’ is

• A. Tangible property
• B. Intangible property
• C. Immovable property
• D. None of the above

Hint:

Goodwill is an intangible asset—it can't be touched or seen, but it adds value to a business.

Answer 1

The Correct Option is B

Goodwill refers to the reputation or customer loyalty a business develops over time. It does not have a physical form, and hence, it is classified as intangible property in legal and accounting terms.