When a Company Establishes an Outstanding Reputation and Has a Competitive

question 151

True/False

When a company establishes an outstanding reputation and has a competitive advantage because of it, the company should record goodwill on its financial statements.

---

Definitions:

Defamation

A false statement made by one person about another, which harms the reputation of the person the statement is about.

Civil Action

A lawsuit brought to enforce, redress, or protect private rights, as opposed to criminal proceedings.

Federal Law

Law that is made by the federal government and applies across all states in the United States.

Tort Law

A legal domain that addresses wrongs or harms caused by one party to another, resulting in legal liability.