Goodwill is the price paid for an asset in excess of its book value.This usually occurs when a company acquired another business.

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Goodwill is an intangible asset that represents the value of a company's brand, reputation, customer base, and other factors that cannot be easily quantified. When one company acquires another, goodwill is often created as the excess of the purchase price over the net tangible assets acquired.

Goodwill Is the Price Paid for an Asset in Excess