According to Generally Accepted Accounting Principles,goodwill Is Recorded as an Asset

question 65

Multiple Choice

According to generally accepted accounting principles,goodwill is recorded as an asset

• A)when favorable factors combine to create goodwill.
• B)when a company has superior earning power.
• C)when it is paid for as part of the purchase of a business.
• D)under no circumstances.

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Definitions:

Defense Mechanism

A psychological strategy unconsciously used to protect oneself from anxiety arising from unacceptable thoughts or feelings.

Psychological Process

The mental functions and actions by which individuals perceive, think, feel, and act in relation to their environment and themselves.

Causes of Suffering

Factors or conditions that lead to physical, psychological, or emotional pain and distress.

Physiological Process

Biological functions and activities occurring within living organisms to maintain life, such as respiration, digestion, and circulation.