Which of the following types of goodwill is considered to be the best?

This question was previously asked in
UGC Paper 2: Commerce 26th June 2019
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  1. Dog goodwill
  2. Cat goodwill
  3. Rat goodwill
  4. Cow goodwill

Answer (Detailed Solution Below)

Option 2 : Cat goodwill
Free
UGC NET Paper 1: Held on 21st August 2024 Shift 1
50 Qs. 100 Marks 60 Mins

Detailed Solution

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Goodwill Classification

Explanation:

Goodwill is an intangible asset emerging throughout the acquisition of one business by another business. It is representative of the non-fiscal assets of an association. Goodwill is a type of unidentifiable asset.

The Classification of Goodwill

It is fascinating to think about the order of Goodwill dependent on customer conduct. This hypothesis was first instituted by P.D. Leake in 1921. He likewise characterizes goodwill as pursues: "the correct which becomes out of a wide range of past exertion in looking for benefit, an expansion of significant worth or different points of interest".

  • DOG GOODWILL
  • CAT GOODWILL
  • RAT GOODWILL
  • RABBIT GOODWILL

Cat Goodwill considered the best goodwill. In Cat Goodwill the customers are progressively loyal and to the brand or the organization. The board or authority groups don't concern them.

Therefore, Cat goodwill is considered to be the best.

  1. Dog Goodwill: Dogs represent a loyal and faithful customer base who are more attached to the persons conducting the business rather than the place of the business.
  2. Rat Goodwill: The other variety of customers has attachment neither to the person nor to the place, which, in other words, is known as fugitive goodwill. The rats are not attached to a person or place and are casual in their behavior. 
  3. Rabbit Goodwill: Rabbits are more concerned about the nearness of the place as it would be troublesome to go somewhere far away.

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