HomeTestsSearchRankProfile
mediumMCQCUET Accountancy 2025 2 June Shift 22026Accountancy
1 mark

As per AS-26, Intangible assets like goodwill should be written off:

  1. A
    As early as possible.
  2. B
    As early as possible but not exceeding its estimated life.
  3. C
    As early as possible but not exceeding its estimated life, which normally should not be beyond 10 years
  4. D
    Within the useful life of asset, irrespective of number of years.

Solution & Step-by-step Explanation

Under Accounting Standard 26 (AS-26) for Intangible Assets, goodwill should be amortized (written off) systematically over its best estimate of useful life. There is a rebuttable presumption that the useful life of an intangible asset will not exceed 10 years from the date it is available for use.

Practice this question

Try it yourself before checking the explanation above.

As per AS-26, Intangible assets like goodwill should be written off:
A
As early as possible.
B
As early as possible but not exceeding its estimated life.
C
As early as possible but not exceeding its estimated life, which normally should not be beyond 10 years
D
Within the useful life of asset, irrespective of number of years.

Share This Question

Financial StatementsAccounting Standards

Related Questions

easyMCQ

Which one of the following statements is true?

easyMCQ

Which of the following statements is not correct?

easyMCQ

Which one of the following statements is correct?

easyMCQ

The product formed by the reaction of an aldehyde with a primary amine is:

easyMCQ

Which part of the tobacco plant is infected by Meloidogyne incognita?

easyMCQ

The term ecosystem was coined by:

Ready for a Full Test?

Practice with timed mock tests and track your performance across Accountancy.

Browse TestsLeaderboard

Discussion