Question

Goodwill is:

A. Only recorded by the seller of a business.

B. The value of a business as a whole, over and above the value of its net identifiable assets.

C. Amortized over the greater of its estimated life or forty years.

D. Recorded when created internally through advertising expense.

Answer 1

The value of a business as a whole, over and above the value of its net identifiable assets.

Step-by-step explanation:

Goodwill arises when a company acquires another entire business. . Goodwill represents assets that are not separately identifiable. The goodwill represents non tangible future value.