Answer:
c. The excess of the fair value of a business over the fair value of all net identifiable assets.
Explanation:
Goodwill is an intangible asset that cannot be seen or even touched. It is shown under the intangible assets section like other intellectual property rights like - copyright, patent, trademarks, etc. It is the amount which reflect the buying price of the other business
It is computed below:
= Acquired fair value of the business - net assets fair value
where,
Net assets = Fair value of assets - fair value of liabilities
