Which of the following statements are correct in respect of goodwill?(A) The present value of a firm's anticipated excess earnings.(B) The capitalised value attached to the differential profit capacity of a business.(C) Goodwill exists only when the firm earns super profits.(D) Any firm that earns normal profits or is incurring losses also has goodwill.Choose the correct answer from the options given below:

Statement (A) is correct because goodwill represents the present value of expected future excess earnings (super profits) that a firm can earn compared to a normal business.Statement (B) is correct because goodwill is viewed as the capitalised value of the extra or differential profit-earning capacity of an established business.Statement (C) is correct because conceptually, commercial goodwill exists only when a firm has the capacity to earn super profits (profits over and above the normal rate of return). If a firm only earns normal profits or incurs losses, it does not possess commercial goodwill value. Therefore, Statement (D) is incorrect.Thus, statements (A), (B), and (C) are correct.