According to Accounting Standard (AS) 3, 'Cash Flow Statements,' under the indirect method, non-cash items are those items that are not directly related to cash but have an impact on the cash flow statement.

Among the options provided:

(1) Goodwill purchased: Goodwill purchased is not treated as a non-cash item while preparing the cash flow statement as it involves the outflow of cash.

(2) Deferred taxes: Deferred taxes may be a result of temporary differences between accounting and tax treatments and are considered as non-cash items in the cash flow statement.

(3) Debenture interest: Debenture interest is a cash outflow item and is not considered a non-cash item.

(4) Dividend paid: Dividend paid is considered as a cash outflow item and is not treated as a non-cash item.

Based on the definitions of the items provided, the correct answer would be (2) Deferred taxes.