What do you mean by goodwill? ////Features of Goodwill:

goodwill definition. ... Goodwill arises when a company acquires another entire business. The amount of goodwill is the cost to purchase the business minus the fair market value of the tangible assets, the intangible assets that can be identified, and the liabilities obtained in the purchase

Q    What is the meaning of goodwill in account?

Goodwill in accounting is an intangible asset that arises when a buyer acquires an existing business. ... The goodwill amounts to the excess of the "purchase consideration" (the money paid to purchase the asset or business) over the net value of the assets minus liabilities.

Features of Goodwill:

1. Goodwill has no existence separate from business, i.e. goodwill cannot exist independently of business. It is attached to the business.

2. Goodwill can be sold or purchased with entire business. It is valuable only when entire business is sold or purchased

3. The value of goodwill and the assessment of its existence is based upon subjective judgement of the valuer, inspite of different methods of its valuation.

4. It is difficult to place an exact value to goodwill since its value fluctuates from time due to changing circumstances of business.