Goodwill Can Be Recorded as an Asset When A(n)

question 51

Multiple Choice

Goodwill can be recorded as an asset when a(n)

• A)business has above normal profitability compared to other businesses in its industry.
• B)business can determine that it has created customer goodwill and name recognition.
• C)offer is received to purchase the business at a price in excess of the value of the assets.
• D)business is purchased and payment is made in excess of the value of the net assets.

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Definitions:

Filtration Membrane

Membrane formed by the glomerular capillary endothelium, the basement membrane, and the podocytes of Bowman’s capsule.

Podocytes

Epithelial cell of Bowman’s capsule attached to the outer surface of the glomerular capillary basement membrane by cytoplasmic foot processes.

Nephron

The functional unit of the kidney, responsible for filtering blood and producing urine.

Proximal Convoluted Tubule

Part of the nephron that extends from the glomerulus to the descending limb of the loop of Henle.