If Goodwill Decreases,the Company Records a Loss and Writes Down

question 99

True/False

If goodwill decreases,the company records a loss and writes down the value of the goodwill.

---

Definitions:

Destroyed by Fire

The state of being damaged or annihilated as a result of combustion or intense heat.

Automatically Terminated

refers to a process or condition under which a contract, agreement, or permission ceases to be in effect automatically due to specific conditions being met without the need for manual intervention or notification.

Merchandise

Goods or products that are available for purchase in retail or wholesale markets, often associated with marketing and sales strategies.

Credit Business

A business or practice that involves the provision of credit, loans, or financing to consumers or other businesses.