If a Company Acquires Goodwill in Connection with the Acquisition

question 14

True/False

If a company acquires goodwill in connection with the acquisition of a business,the goodwill is amortizable over a 60-month period.

---

Definitions:

Lottery Ticket

A ticket purchased for the chance to win prizes in a lottery, typically involving the selection of numbers for a potential cash or goods award.

Lacks Voluntary Consent

A situation where agreement or permission is given under duress, coercion, or misinformation, undermining the validity of a contract or decision.

Motivational Conference

An event designed to inspire and energize attendees, often featuring speakers who share success stories, strategies, and motivational insights.

Implied Contract

An agreement derived from the actions or circumstances of the parties involved, rather than explicit words.