Match Each of the Following Intangible Assets with Its Proper

question 33

Multiple Choice

Match each of the following intangible assets with its proper general category.
-Excess of purchase price over identifiable assets

• A)Artistic
• B)Goodwill
• C)Customer
• D)Marketing
• E)Technology
• F)Contract

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Definitions:

Chapter 7 Bankruptcy

A segment of U.S. bankruptcy law allowing for the liquidation of a debtor's assets to pay off creditors as part of a bankruptcy proceeding.

Bankruptcy Process

Refers to the legal proceedings involved in declaring an individual or business insolvent, allowing them to be discharged of some or all debt under the jurisdiction of bankruptcy courts.

Automatic Stay

A suspension of all judicial proceedings upon the occurrence of an independent event. Under the Bankruptcy Code, the moment a petition to initiate bankruptcy proceedings is filed, all litigation or other legal action by creditors against the debtor and the debtor’s property is suspended.

Litigation

The process of taking legal action in court to resolve disputes between parties, including lawsuits and arbitration.