In determining the value of an existing business, one of the potential sources of value is the current owner's goodwill. In this case, goodwill refers to ________.

Question

Quizplus · Accepted Answer

Goodwill refers to intangible assets such as the business's reputation, customer loyalty, and brand recognition. It is created through the owner's efforts and is a potential source of value for the business. Therefore, the correct choice is B - intangible assets such as customer service.

In Determining the Value of an Existing Business, One of the Potential