Examlex
Which of the following statements about social contracts is true?
Tangible Asset
Physical and material assets that can be seen, touched, or quantified, such as machinery, buildings, and inventory.
Goodwill
The intangible asset that arises when a business is acquired for more than the fair value of its net identifiable assets.
GAAP
Generally Accepted Accounting Principles; a collection of standardized guidelines and practices for financial accounting used in a particular jurisdiction.
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