According to generally accepted accounting principles, goodwill is recorded as an asset
A) when favorable factors combine to create goodwill.
B) when a company has superior earning power.
C) when it is paid for as part of the purchase of a business.
D) under no circumstances.
C
You might also like to view...
When golf courses provide rules for playing and behaving appropriately, and customers encourage other customers to follow the same rules, they are encouraging customer citizenship via customer coproduction
Indicate whether the statement is true or false
The process of posting is associated most closely with the
a. source documents. b. ledger. c. financial statements. d. trial balance.
In the 5Ss, items identified as unnecessary and thus removed from a workplace would be included with which S?
Your father spent all of his adult life working in a small T-shirt making firm. His first year of sales was $118,000 and his last year of sales was $450,000
If the firm grew at an average rate of 3.15% per year, how many years did your father sell T-shirts at his firm? A) 43.16 years B) 40.00 years C) 31.68 years D) 25.91 years