The Monetary Value of a Property or of an Interest

question 41

Short Answer

The monetary value of a property or of an interest in a property in excess of claims or liens against it is called __________.

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Definitions:

Fair Value

The estimated market price of an asset or liability, reflecting the amount for which it could be exchanged in an arm's length transaction.

Goodwill

An intangible asset that arises when a business is acquired for more than the fair value of its net identifiable assets, representing the premium paid for the company's reputation, customer base, or brand identity.