Respuesta :
The assertion is accurate. If goodwill is not acquired from another commercial entity, it is not recorded in accounting.
A positive relationship between an organization and its customers fosters goodwill. It occurs when earnings increase above average earnings due to a company's high reputation, skilled employees, and other factors.
Another name for goodwill is an intangible asset connected to the purchase of one business by another. When the acquisition price is greater than the total value of all tangible and intangible assets obtained while in possession, this is known as goodwill.
By deducting the difference between the fair market value of the company's assets and liabilities from its purchase price, goodwill is computed. Companies must at least annually examine the goodwill value on their financial statements and record any impairment.
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