Which of the following terms refers to the amount paid for an existing business beyond the value of its other assets?
A) Goodwill
B) Excess compensation
C) Licensing
D) Asset promotion
E) Liability deduction
Answer: A
Explanation: A) Goodwill is the intangible value of the expectation that a company will continue to do business wisely.
Business
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The gross estate can be reduced by the value of property passed to a surviving spouse. This reduction is known as
(a) The unified tax credit (b) The marital deduction (c) The absolute assignment (d) The homestead exemption
Business
Sheth and Sisodia say ________ is ripest for improvement because most companies are either ineffectual or inefficient at developing it
A) acceptability B) affordability C) affability D) accessibility E) awareness
Business