a. Explain the difference between tangible and intangible non-current assets. b. What is goodwill and how does

Question:

a. Explain the difference between tangible and intangible non-current assets.
b. What is and how does it usually arise in a statement of financial position?
Goodwill
Goodwill is an important concept and terminology in accounting which means good reputation. The word goodwill is used at various places in accounting but it is recognized only at the time of a business combination. There are generally two types of...